IPO for SPAC Achari Ventures Holdings Corp. I (AVHI) Opens at $10.05

October 15, 2021 11:17 AM EDT

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Today's IPO for SPAC Achari Ventures Holdings Corp. I (NASDAQ: AVHIU) (NASDAQ: AVHI) opened for trading at $10.05 after pricing 0,000,000 units at a price of $10.00 per unit.

Chardan is serving as sole book-running manager. Reed Smith LLP acted as counsel to the Company, and White and Williams LLP acted as counsel to Chardan.

The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination with any business in any industry, sector or location, the Company's initial focus will be on identifying acquisition opportunities with an ancillary (non-plant touching) company operating in the cannabis industry, including equipment, hardware, technology/software, or hydroponics. The Company is sponsored by Achari Sponsor Holdings I LLC (the "Sponsor"), an affiliate of Achari Ventures, and is led by Vikas Desai, Chief Executive Officer and Chairman of the Board of Directors; Mitch Hara, Chief Operating Officer and Chief Financial Officer; and Merrick Friedman, Chief Investment Officer and Director. Achari Ventures is a leading early investment firm focused on the cannabis industry.

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Chardan Capital Markets, Definitive Agreement, IPO, SPAC