ARK invests $8m in Israeli cannabis co InterCure
ARK s Israeli ETF bought a 2.4% stake in InterCure, which is worth NIS 775 million.
ARK Exchange Traded Funds (ETF) has invested $8 million in Israeli cannabis company InterCure (TASE: INCR). This is part of ARK s recent spending spree on Israeli companies after setting up an Israeli ETF. InterCure is set to merge with a SPAC (special purpose acquisition company) on the Canadian stock exchange, and ARK now has a 2.4% stake in InterCure worth NIS 775 million. ARK bought the shares at NIS 6.46, similar to today s price.
RELATED ARTICLES
InterCure is the only cannabis company in ARK s Israeli ETF and other companies are Gilat Satellite Networks Ltd. (Nasdaq: GILT; TASE: GILT), ad-tech company Perion Network Inc. (Nasdaq:PERI: TASE:PERI), immunotherapy drug developer Enlivex Therapeutics (Nasdaq: ENLV), computational biology company Evogene Ltd. (TASE:EVGN), stem cell treatment company Gamida Cell Ltd. (Nasdaq: GMDA) and drug developer