Barak’s Israeli Pot Firm to List on Nasdaq via REIT
- InterCure follows Subversive Capital’s recent deal with Jay-Z
- Canndoc eyes Israeli recreational use and global growth
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InterCure Ltd., the Israeli cannabis producer whose chairman is former Prime Minister Ehud Barak, agreed to be acquired by blank-check company Subversive Real Estate Acquisition REIT LP with the intent of listing its shares on the Nasdaq.
The transaction will value Tel Aviv-listed InterCure, doing business as Canndoc, at $300 million and is scheduled to be completed in April, Subversive said in a statement. The REIT said it has received private placement commitments of $65 million, which it intends to use to fund the merger and the growth of Canndoc after the deal.