This Santa Cruz Company Is the First Cannabis Farm Cleared for a Public Stock Offering by the SEC
Will Goldenseed soar on the stock exchange?
Cannabis farmers are coming to Wall Street. Goldenseed, a company that promotes itself as a “natural, sungrown farm,” has become the first farm to have its stock qualify for public sale. While the stock market previously allowed investment in Canadian companies and U.S. retailers, cannabis farm stock is a first.
“This is real stock in the company,” says Goldenseed’s attorney, Kendall Almerico. “You actually own equity. This isn’t a bunch of hippies growing pot in their backyard.”
Founded in 2017, Goldenseed cultivates and processes cannabis and hemp out of facilities in Santa Cruz and Monterey counties. Its facility near Watsonville boasts more than 440,000 square feet of potential cannabis cultivation space, and the company recently acquired an 80,000-square-foot facility in Moss Landing to process hemp. With the money it obtains from its IPO, the company plans to expand its already impressive footprint.
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Silicon Valley gets woke.