Cabbacis Inc, a U.S.-based biotech company specializing in reduced nicotine cigarettes and vaporizer pods containing hemp, has launched its initial public offering (IPO) under federal securities law and Regulation A (Tier 2). The company announced the SEC's qualification of its Form 1-A Offering Circular, allowing investors to purchase shares at $2.00 each, totaling up to $5 million.
The IPO comes on the heels of the SEC's approval of Cabbacis' Offering Circular on Monday. This regulatory milestone follows the company's initial filing on October 20, 2023, which included detailed "Risk Factors" for potential investors. Cabbacis' public offering consists of up to 2.5 million shares, available for purchase directly through their website.
Cabbacis' business strategy focuses on addressing the needs of two-thirds of the world's smokers with its innovative products. The company boasts a robust global patent portfolio, holding 31 issued patents, including six within the United States. This intellectual property is central to their product development and market positioning.
Following the IPO, Cabbacis aims to list its common stock on the OTCQB® Venture Market, which is designed for entrepreneurial and development-stage U.S. and international companies.
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