Akanda secures $7 million convertible note financing from investors

Akanda Corp. (NASDAQ: AKAN) announced the execution of a securities purchase agreement with institutional investors for $7.0 million in 12-month convertible promissory notes through a private placement transaction. The closing is expected to occur on January 21, 2026, subject to customary closing conditions.

The company plans to allocate the proceeds across three areas: up to $2.3 million for marketing purposes, approximately $2.6 million for working capital and general corporate purposes, and up to $2.1 million for debt.

Univest Securities, LLC served as the exclusive placement agent for the offering, while Ruskin Moscou Faltischek PC acted as transaction and securities counsel to the company.

The convertible notes and common shares that may be issued upon conversion have not been registered under the Securities Act of 1933 or state securities laws. Until registered, these securities cannot be offered or sold in the United States without registration or an applicable exemption.

Additional details regarding the notes and transaction will be available in the company's Form 6-K filing with the U.S. Securities and Exchange Commission.

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