Another group of investors has filed plans to create an enormous blank-check company that will invest in hemp-derived consumer goods.

The latest entry in a wave of cannabis-related blank-check efforts comes from Ackrell SPAC Partners I Co., which filed Tuesday with the U.S. Securities and Exchange Commission and seeks to trade on the Nasdaq.

The investors tell the SEC they invest in so-called “fast-moving consumer goods” and have identified opportunities in hemp, particularly beverages and wellness products.

“Our management team believes that hemp-based consumer goods have the potential for mass consumer appeal around the world,” Ackrell said in its filing. “Consumers are beginning to use hemp-based products to treat a variety of medical conditions, including anxiety, insomnia, pain and inflammation.”

The Ackrell team includes CEO Jason Roth, former CEO of Mile High Labs, a Colorado-based CBD extractor and private-label supplier.

Ackrell vice chairman Shannon Soqui was once head of U.S. cannabis investment at cannabis investment adviser Canaccord Genuity.

The Ackrell filing is just the latest in a flurry of cannabis-related blank check or special purpose acquisition companies – better known as SPACs.

Cannabis-related blank-check IPOs raised more than $2.6 billion last year and more than $700 million through the first half of 2020, according to Viridian Capital Advisors.

Author: webmaster