Cannabis SPAC Stable Road Acquisition prices $150 million IPO at $10

Stable Road Acquisition Corp., a blank check company focused on companies within the cannabis industry, raised $150 million by offering 15 million units at $10 to command a market value of $193 million. Each unit consists of one share of common stock and one half of one warrant to purchase common stock at a price of $11.50 per share.

Stable Road Acquisition Corp. plans to list on the Nasdaq under the symbol SRACU. Cantor Fitzgerald acted as a lead manager on the deal.