Relativity Acquisition, a blank check company targeting the cannabis industry, filed on Thursday with the SEC to raise up to $125 million in an initial public offering.
The Las Vegas, NV-based company plans to raise $125 million by offering 12.5 million units at $10. Each unit consists of one share of common stock and one warrant, exercisable at $11.50. At the proposed deal size, Relativity Acquisition would command a market value of $161 million.
The company is led by CEO and Director Tarek Tabsh, who co-founded and guided the initial vision and strategy for UK-based pharmaceutical Oxford Cannabinoid Technologies. The company plans to target the cannabis industry, as well as related industries such as consumer packaged goods, health & wellness, technology, pharmaceuticals, manufacturing, distribution, logistics, and brand management.
Relativity Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol RACYU. The company filed confidentially on December 20, 2021. A.G.P. is the sole bookrunner on the deal.
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