Akanda AKAN
Akanda: securities offering (amended)
- Form
- F-1/A
- Filed
- Importance
- Routine
- Accession
- 0001213900-24-023061
- Document
- F-1/A
Not explained yet; the original is on EDGAR.
Securities offering (amended)
What changed since the last draft
No changes since the F-1/A filed Mar 11, 2024
Compared with the F-1/A 0001213900-24-021377, filed Mar 11, 2024.
No changes found between the two drafts.
Show the redline
Section by section. Added words and removed words against the earlier filing.
Cover page 10 changes
As filed with the Securities and Exchange Commission on March 11, 15, 2024
39 unchanged paragraphs
SUBJECT TO COMPLETION DATED March 11, 15, 2024
1 unchanged paragraph
We are offering [___] Common Shares, no par value (the "Common Shares") at an assumed public offering price of $ [___] (equal to the last sale price of our common share as reported by The Nasdaq Capital Market on [___]).
Up to 85,365,854 Common Shares
Up to 85,365,854 Pre -Funded Warrants to Purchase 85,365,854 Common Shares
Up to 85,365,854 Common Shares Underlying the Pre -Funded Warrants
We are offering up to 85,365,854 Common Shares, no par value (the "Common Shares") at a public offering price of $ [___].
We are also offering pre-funded warrants consisting of one pre-funded warrant to purchase up to an aggregate of [_______] one Common Shares, Share, or the pre-funded warrants, in lieu of Common Shares, to any investor whose purchase of Common Shares in this offering would otherwise result in the investor, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the election of the investor, 9.99%) of our outstanding Common Shares immediately following the consummation of this offering. The purchase price of each pre-funded warrant is equal to the price at which one Common Share is sold in this offering, minus $0.0001, and the exercise price of each pre-funded warrant is $0.0001 per share. The pre-funded warrants are immediately exercisable and may be exercised at any time until all of the pre-funded warrants are exercised in full.
We have one class of Common Shares. Each Common Share is entitled to one vote. Our Common Shares are quoted on the Nasdaq Capital Market under the symbol "AKAN". The last sale price of our Common Share as reported by The Nasdaq Capital Market on ________, 2024 was $_____.
12 unchanged paragraphs
The date of this prospectus is March 11, 15, 2024
24 unchanged paragraphs
The offering 2 changes
2 unchanged paragraphs
__________ Up to 85,365,854 Common Shares, based on the sale of our Common Shares at an assumed public offering price of $[___] per Common Share, which is the latest reported sale price of our Common Share on The Nasdaq Capital Market on [___] Pre-Funded Warrants We are also offering pre -funded warrants, consisting of one pre -funded warrant to purchase up to an aggregate of [_____] one Common Shares Share, to any investor whose purchase of Common Shares in this offering would otherwise result in such investor, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the election of the investor, 9.99%) of our outstanding Common Shares immediately following the consummation of this offering, in lieu of Common Shares. The purchase price of each pre -funded warrant is equal to the price at which one Common Share is being sold in this offering, minus $0.0001, and the exercise price of each pre -funded warrant is $0.0001 per share. The pre -funded warrants are exercisable immediately and may be exercised at any time until all of the pre -funded warrants are exercised in full. This offering also relates to the Common Shares issuable upon exercise of the pre -funded warrants sold in this offering. See " Description of Share Capital and Articles of Incorporation " for a discussion on the terms of the pre -funded warrants.
10 unchanged paragraphs
(1) The number of Common Shares to be outstanding immediately after this offering is based on 8,842,851 Common Shares as of March 11, 15, 2024. Unless otherwise indicated, all information in this Prospectus:
10 unchanged paragraphs
Principal stockholders 1 change
6 unchanged paragraphs
Percentages beneficial ownership (as determined in accordance with Rule 13d -3 under the Exchange Act) are based on 8,842,851 Common Shares outstanding as of March 11, 15, 2024.
16 unchanged paragraphs
Note 7: Acquisition of Holigen Limited 6 changes
2 unchanged paragraphs
Pre-Funded Warrants to Purchase Common Shares
PRELIMINARY PROSPECTUS
Univest Investments, LLC
INFORMATION NOT REQUIRED IN PROSPECTUS
Up to 85,365,854 Common Shares
Up to 85,365,854 Pre-Funded Warrants to Purchase Up to 85,365,854 Common Shares Up to 85,365,854 Common Shares Underlying the Pre-Funded Warrants ________________________ PRELIMINARY PROSPECTUS ________________________ Univest Investments, LLC March 15, 2024 PART II INFORMATION NOT REQUIRED IN PROSPECTUS
Undertakings 4 changes
13 unchanged paragraphs
Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form F -1 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Fort Lauderdale, FL, USA on March 11, 15, 2024.
2 unchanged paragraphs
Date: March 11, 2024
Date: March 15, 2024
Title: Interim Chief Executive Officer and Executive Director ( Principal Executive Officer ) /s/ Gurcharn Deol Date: March 11, 15, 2024 Name: Gurcharn Deol Title: Chief Financial Officer ( Principal Financial Officer and Principal Accounting Officer ) * Date: March 11, 15, 2024 Name: Harvinder Singh Title: Director * Date: March 11, 15, 2024 Name: Jatinder Dhaliwal Title: Director * Date: March 11, 15, 2024 Name: David Jenkins Title: Director /s/ Katie Field Date: March 11, 15, 2024 Name: Katie Field Title: Attorney -in-Fact II-8 Signature of Authorized U.S. Representative of Registrant Pursuant to the requirements of the Securities Act of 1933, as amended, the undersigned, the duly authorized representative in the United States of Akanda Corp., has signed this registration statement in the city of Fort Lauderdale, FL, USA, on March 11, 15, 2024.
1 unchanged paragraph
Unchanged: Forward-looking statements, Prospectus summary, Risk factors, Use of proceeds, Dividend policy, Capitalization, Dilution, MD&A, Business, Regulation, Management, Management compensation, Related-party transactions, Description of share capital and articles of incorporation, Securities eligible for future sale, Certain tax considerations, Plan of distribution, Expenses related to the offering, Legal matters, Experts, Enforceability of civil liabilities, Where you can find additional information, Index to financial statements, Notes to the financial statements, Note 1: Nature of Operations and Going Concern, Note 2: Basis of Preparation, Note 3: New standards issued, not yet adopted, Note 4: Business Combination (cont.), Note 6: Trade and Other Receivables, Note 7: Inventory (cont.), Note 8: Marketable Securities, Note 9: Property, Plant and Equipment, Note 10: Right-of-use Assets (cont.), Note 11: Intangible Assets (cont.), Note 12: Loan Receivable, Note 13: Lease Liability (cont.), Note 14: Loans and Borrowings, Note 14: Loans and Borrowings (cont.), Note 15: Share Capital, Note 15: Share Capital (cont.), Note 16: Related Party Transactions, Note 19: Capital Management, Note 20: Segmented Information, Note 20: Segmented Information (cont.), Note 21: Contingencies, Note 22: Subsequent Events, Note 23: Subsequent Events (cont.), Note 24: Events (Unaudited) Subsequent to the Date of the Independent Auditor's Report, Note 3: Significant Accounting Policies (cont.), Note 4: Business Combination, Note 5: Loss of Control of Bophelo Bio Science and Wellness (Pty) Ltd. (cont.), Note 7: Inventory, Note 9: Property, Plant and Equipment (cont.), Note 10: Right-of-use Assets, Note 11: Intangible Assets, Note 12: Loan Receivable (cont.), Note 13: Lease Liability, Note 14: Loans Payable, Note 16: Related Party Transactions (cont.), Note 17: Income Taxes (cont.), Note 18: Financial Instruments, Note 19: Risks Arising from Financial Instruments and Risk Management, Note 20: Capital Management (cont.), Note 2: Basis of preparation (cont.), Note 3: Significant accounting policies:, Note 4: Accounts receivable, Note 6: Property and equipment, Note 6: Property and equipment (cont.), Note 10: Loans payable (cont.), Note 11: Capital, Note 12: Income taxes, Note 15: Risks arising from financial instruments and risk management (cont.), Note 17: Determination of fair values, Note 18: Segmented info, Note 18: Segmented info (cont.), Note 1: Appointment of Directors, Note 2: Private Placement, Note 3: Conversion of Debenture, Note 4: ESG Trust, Note 5: IPO & Listing, Note 6: Conversion of Warrant, Indemnification of Directors and Officers, Recent Sales of Unregistered Securities, Exhibits and Financial Statements Schedule
Compared by code from the two drafts’ text: offering terms first, then sections and risk factors added or removed, numbers that moved, and rewording. No model wrote this list. Not investment advice.
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