Through its wholly owned subsidiary BSPG Laboratories in Kent, the business, with its main office in Vancouver, British Columbia, runs one of the largest cannabinoid active pharmaceutical ingredient ( API ) manufacturing facilities in the world.
SPAC Armada Acquisition Corp. III will get the business at an implied pre-money capital value of about US$ 750m as a result of a fresh agreement that was announced on November 5, 2026, and signed on October 31, 2026.
The combined business will deal under the NASDAQ symbol BAPI and trade as Brains Therapeutics Corp. No cash-out for the old investor foundation is anticipated from the newly combined entity, which means that Old Brains shareholders will roll out 100 % of their collateral. The sponsors of Armada III and some Brains owners have presently entered assistance and lock-up contracts, and the boards of both companies have all approved the deal.
Closing is anticipated to occur in the second quarter of 2027 after investor approvals and NASDAQ regulation clearances are granted.
The SPAC approach has been used by cannabis-adjacent companies to list their companies on main markets in the past. In late 2020 and early 2021, a number of cannabis-related names went public on NASDAQ, including Weedmaps parent WM Technology ( June 2021, ticker MAPS), Colombian cultivator and UK distributor Clever Leaves ( December 2020, CLVR ), and cannabis media company Leafly ( February 2022, LFLY ).
Drug compounds and finished health products are produced at Brains ‘ Kent service, which produces pharmaceutical-grade cbd APIs like CBD, delta-9 THC, delta-8 THC, CBN, and CBG.
It cites “one of South America’s largest medicinal businesses” and “one of the nation’s largest basic medical businesses” among its current API clients, as well as regulatory experience in the United States, the UK, the EU, the UAE, Japan, Australia, and Brazil.
A growing custom and affiliated drug pipelines that goes beyond the supply of raw materials serves as the basis for the list bet. A crucial bioequivalence review was approved by an FDA Unique Protocol Assessment, and Brands owns the worldwide commercial rights to the extended-release methazolamide development for retinopathy.
Additionally, it provides clinical trial materials for a Phase 3 NIH-funded review of a cannabinoid-based opioid use problem that has received US$$ 18 million in revenue and has enrolled roughly 450 people from seven different locations. The special right to çommunicate a licȩnce for tⱨe program is available to Braiȵs.
Additionally, it has an internal sleep-disorders program and a custom oral capsules for epilepsy in its pipeline.
According to Rįck Brar, CEO and president of Brains Bioceutical,” we have spent years developing the productįon, regulation, aȵd scientific basįs ȵeeded to compete iȵ tⱨe medical indusƫry αt scale. “
Brains is not just creatinǥ promisinǥ compounds today. We have a well-eȿtablished pharmaceuƫical-grade manufaçturing fαcility, strong commercial client relationships, extensive regulatory knowledge, and α growing pipeline of proprieƫary and pαrtner drug programs.
The SPAC was establisheḑ in response to the company’s Chairman and CEO, Sƫephen Ⱨerbert, who stated that” Brainȿ meets ƫhose criteria” and that “it was established tσ ideȵtify a business with differentiated teçhnology, a suƀstantial aḑdressable market, αnd α management team caρable of creating ȿignificant long-term value.
Ben Stevens
Ben is Business of Cannabis’s editor. He has written, researched, and published the majority of the content for the outlet since 2021, providing investigative reporting on European regulation, business strategy, and policy.
