Marijuana Startup Backed by John Boehner Goes Public in Canada
- Acreage Holdings raises $314 million in reverse takeover
- Weed entrepeneurs going north of the border to secure capital
Photographer: David Paul Morris/Bloomberg
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The cannabis startup backed by former Speaker of the House John Boehner is set to become one of the most valuable companies in the U.S. weed industry.
Acreage Holdings is the latest U.S. cannabis firm to tap the public markets in Canada, where marijuana is legal, through a reverse takeover. The company raised $314 million in a private placement that values it at about $2.8 billion. Acreage shares are set to start public trading on Thursday.