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We are focused on Disrupting Tobacco™ by manufacturing and selling nicotine-free and tobacco-free alternatives to traditional cigarettes. We utilize a proprietary, patented spraying technology for terpene infusion and patent-pending flavored filter infusion technology to manufacture hemp and herb-based smokable alternatives.
We have conducted research and development in the smokables space and are engaged in the manufacturing and sale of smokable hemp and herb products, including The Real Stuff™ Hemp Smokables. Our operational segments include private label manufacturing and sales, intellectual property licensing, and the development and sales of inhouse brands using patented counter displays. Our inhouse brands are currently sold in over 200 retail locations located in the San Diego, California, area, our private label customers include well-known and established companies in the cannabis and tobacco-alternatives industries, and we currently own approximately 600 kiosk vending machines which we plan to refurbish and use to distribute our products in a wider fashion under our HempBox Vending brand.
Symbol HPCO
Exchange NASDAQ
Shares (millions): 1.0
Price range $6.00 – $6.00
Est. $ Volume $6.0 mil
Manager / Joint Managers Boustead Securities
Hempacco, which manufactures nicotine-free cigarettes made from hemp, lowered the proposed deal size and guided to the high end of the range for its upcoming IPO on Monday.
The San Diego, CA-based company now plans to raise $6 million by offering 1 million shares at a price of $6. The company had previously filed to offer 3 million shares at a range of $4 to $6. At the revised price, Hempacco will raise -60% less in proceeds than previously anticipated and command a market value of $138 million (+20% vs. original terms). The post-IPO float of 1.0 million shares represents just 4% of shares outstanding.
The company produces nicotine-free and tobacco-free smokable hemp and herb products for its in-house brand of hemp-based cigarettes, The Real Stuff Smokables, as well as hemp-based cigarettes for private label customers in the cannabis and tobacco alternatives industries. Launched in 2020, its smokable CBD brands are currently sold in over 200 retail locations in San Diego, California in addition to 600 kiosk vending machines. Hempacco’s cigarette production facility has the capacity to produce up to 30 million cigarettes monthly with in-house processing, packing, and shipping capabilities.
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