Akanda Corp. has proposed a public offering of 10,000 Series A Convertible Voting Preferred Shares. The company aims to raise $10 million in gross proceeds and estimates net proceeds of approximately $9.6 million. It plans to use the funds for marketing, debt repayment, working capital, and other general corporate purposes.
Akanda is facing a Nasdaq equity compliance shortfall. As of June 30, 2026, it had $755,238 in cash and cash equivalents. The company said its existing funds would support operations for about five more months. Its filings reported a $9.7 million working capital deficit and expressed substantial doubt about its ability to continue as a going concern. Conversion of the preferred shares could significantly dilute existing shareholders.