SEC Comment Letter 0000000000-22-012458 to Canna-Global Acquisition Corp (CNGL) (CIK 0001867443)
Canna-Global Acquisition Corp (CNGL) (CIK 0001867443)
Date: Nov. 17, 2022 · CIK: 0001867443 · Accession: 0000000000-22-012458
AI Filing Summary & Sentiment
File numbers found in text: 001-41102
Letter
United States securities and exchange commission logo November 17, 2022 J. Gerald Combs Chief Executive Officer Canna-Global Acquisition Corp 4640 Admiralty Way , Suite 500 Marina Del Rey, California 90292 Sharwin Sinnan Chief Financial Officer Canna-Global Acquisition Corp 4640 Admiralty Way , Suite 500 Marina Del Rey, California 90292 Re:Canna-Global Acquisition Corp Form 10-K for the Year Ended December 31, 2021 Filed April 13, 2022 File No. 001-41102 Dear J. Gerald Combs: We have reviewed your filing and have the following comment. In our comment, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this comment within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this comment, we may have additional comments. Form 10-K for the Year Ended December 31, 2021 General 1.With a view toward disclosure, please tell us whether your sponsor is, is controlled by, or has substantial ties with a non-U.S. person. If so, please revise your disclosure in future filings to include disclosure that addresses how this fact could impact your ability to complete your initial business combination. For instance, discuss the risk to investors that you may not be able to complete an initial business combination with a U.S. target company should the transaction be subject to review by a U.S. government entity, such as the Committee on Foreign Investment in the United States (CFIUS), or ultimately
FirstName LastNameJ. Gerald Combs Comapany NameCanna-Global Acquisition Corp November 17, 2022 Page 2 FirstName LastName J. Gerald Combs Canna-Global Acquisition Corp November 17, 2022 Page 2 prohibited. Disclose that as a result, the pool of potential targets with which you could complete an initial business combination may be limited. Further, disclose that the time necessary for government review of the transaction or a decision to prohibit the transaction could prevent you from completing an initial business combination and require you to liquidate. Disclose the consequences of liquidation to investors, such as the losses of the investment opportunity in a target company, any price appreciation in the combined company, and the warrants, which would expire worthless. Please include an example of your intended disclosure in your response. We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact Howard Efron at 202-551-3439 or Wilson Lee at 202-551-3468 if you have questions regarding comments on the financial statements and related matters. Sincerely, Division of Corporation Finance Office of Real Estate & Construction cc: Debbie Klis
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United States securities and exchange commission logo
November 17, 2022
J. Gerald Combs
Chief Executive Officer
Canna-Global Acquisition Corp
4640 Admiralty Way , Suite 500
Marina Del Rey, California 90292
Sharwin Sinnan
Chief Financial Officer
Canna-Global Acquisition Corp
4640 Admiralty Way , Suite 500
Marina Del Rey, California 90292
Re:Canna-Global Acquisition Corp
Form 10-K for the Year Ended December 31, 2021
Filed April 13, 2022
File No. 001-41102
Dear J. Gerald Combs:
We have reviewed your filing and have the following comment. In our comment, we
may ask you to provide us with information so we may better understand your disclosure.
Please respond to this comment within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe our
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to this comment, we may have additional comments.
Form 10-K for the Year Ended December 31, 2021
General
1.With a view toward disclosure, please tell us whether your sponsor is, is controlled by, or
has substantial ties with a non-U.S. person. If so, please revise your disclosure in future
filings to include disclosure that addresses how this fact could impact your ability to
complete your initial business combination. For instance, discuss the risk to investors that
you may not be able to complete an initial business combination with a U.S. target
company should the transaction be subject to review by a U.S. government entity, such as
the Committee on Foreign Investment in the United States (CFIUS), or ultimately
FirstName LastNameJ. Gerald Combs
Comapany NameCanna-Global Acquisition Corp
November 17, 2022 Page 2
FirstName LastName
J. Gerald Combs
Canna-Global Acquisition Corp
November 17, 2022
Page 2
prohibited. Disclose that as a result, the pool of potential targets with which you could
complete an initial business combination may be limited. Further, disclose that the time
necessary for government review of the transaction or a decision to prohibit the
transaction could prevent you from completing an initial business combination and require
you to liquidate. Disclose the consequences of liquidation to investors, such as the losses
of the investment opportunity in a target company, any price appreciation in the combined
company, and the warrants, which would expire worthless. Please include an example of
your intended disclosure in your response.
We remind you that the company and its management are responsible for the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action or absence of
action by the staff.
You may contact Howard Efron at 202-551-3439 or Wilson Lee at 202-551-3468 if you
have questions regarding comments on the financial statements and related matters.
Sincerely,
Division of Corporation Finance
Office of Real Estate & Construction
cc: Debbie Klis