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US IPO Week Ahead: Cannabis micro-cap set to be the first IPO of March

March 11, 2022
Week Ahead

After nearly a month of no activity, one IPO may price in the week ahead, early-stage cannabis producer Akanda (AKAN). Some SPACs may join the calendar during the week.

Akanda (AKAN) plans to raise $16 million at a $116 million market cap. The company plans to supply medicinal-grade cannabis biomass, cannabis flower, and cannabis concentrates to wholesalers in international markets, with cultivation facilities in Southern Africa. Akanda’s operations are still early stage, and it has generated minimal revenue to date.

U.S. IPO Calendar
Deal Size
Market Cap
Price Range
Shares Filed
Akanda (AKAN)
London, United Kingdom
UK-based cannabis producer with cultivation facilities in Southern Africa.

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Street research is expected for two companies, and lock-up periods will be expiring for up to 12 companies in the week ahead. For access to Street research and lock-up expiration dates, sign up for a free trial of IPO Pro.

IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 3/10/2022, the Renaissance IPO Index was down 30.9% year-to-date, while the S&P 500 was down 10.4%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Uber Technologies (UBER) and Snowflake (SNOW). The Renaissance International IPO Index was down 28.1% year-to-date, while the ACWX was down 10.4%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Volvo Car Group and Kuaishou.