TORONTO--(BUSINESS WIRE)--NEO is pleased to announce Subversive Capital Acquisition Corp. (“SCAC”) Class A Restricted Voting Units will begin trading today on NEO under the symbol SVC.UN.U. The newly organized special purpose acquisition corporation (SPAC) raised over US$500,000,000 in its initial public offering (IPO), making it the largest SPAC IPO in Canadian history. SCAC’s initial Qualifying Transaction and value creation strategy will be to identify, acquire and, following its initial Qualifying Transaction, assist in the growth of a business in the cannabis industry. SCAC is not limited to this sector or opportunities outside of Canada and the United States.
“Subversive Capital Acquisition Corp. is very excited to be listing with the leader in SPACs in Canada,” said Leland Hensch, Chief Executive Officer and Director at SCAC. “NEO quickly helped us recognize time to market, provides efficiencies and is setting the bar for customer service.”
This is the fifth and largest SPAC to list on NEO. Investors can trade shares of SVC.UN.U through their usual investment channels, including discount brokerage platforms and full-service dealers. The NEO Exchange is now home to over 70 corporate and ETF listings, and consistently facilitates over 10 per cent of all Canadian trading volume. Click here for a complete view of all NEO-listed securities.
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Neo Exchange Inc. is Canada’s next generation stock exchange, putting the needs of investors, businesses looking to raise capital and dealers first. Fully operational since June 2015, the NEO Exchange currently offers an innovative and investor-driven trading platform for all Canadian publicly-traded securities. It also has a value-added listing approach for capital raising companies and investment products, focused on liquidity, transparency and efficiency. For more information, please visit: NEOstockexchange.com