Canaccord Genuity SPAC wraps up IPO, secures $100 mln

Canaccord Genuity Growth II Corp (CGGC II), a Canadian special purpose acquisition corporation (SPAC), has completed its initial public offering (IPO), raising more than $100 million. The proceeds include the full exercise of the IPO's greenshoe option. CGGC II's Class A restricted voting units began trading on April 5 on the Neo Exchange under the symbol CGGZ.UN. CGGC II, managed by an affiliate of Canaccord Genuity Group Inc, is expected to target an operating business valued at $100 million to $1 billion. CGGC II’s predecessor raised $46 million from its 2018 IPO. In the same year, it agreed to merge with Columbia Care LLC, a New York-based medical cannabis company.

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