Akanda Corp Signs $7M Private Placement Deal

Akanda Corp (AKAN) shares rose by 6.95% as the stock crossed above its 5-day SMA, reflecting positive market sentiment.

The company has signed a $7 million private placement deal through a 12-month convertible promissory note with institutional investors, aimed at enhancing its financial flexibility and supporting marketing efforts. Additionally, Akanda announced a 1-for-5 reverse stock split to increase share price and attract investor interest. This funding initiative is expected to close by January 21, 2026, and will help improve the company's capital structure and reduce financial risk.

This strategic move is likely to bolster Akanda's market position and provide the necessary resources for its long-term objectives, potentially leading to increased investor confidence.