$Hempacco Co., Inc. (HPCO.US)$ plans to raise $6 million in an initial public offering (IPO) on Friday, August 26th, IPO Scoop reports. The company plans to issue 1,000,000 shares at  $6.00 per share.

In the last 12 months, Hempacco Co., Inc. generated $1.2 million in revenue and had a net loss of $1.9 million. The company has a market cap of $105.5 million.

Hempacco Co., Inc. provided the following description of their company for its IPO: "We are focused on Disrupting Tobacco by manufacturing and selling nicotine-free and tobacco-free alternatives to traditional cigarettes. We utilize a proprietary, patented spraying technology for terpene infusion and patent-pending flavored filter infusion technology to manufacture hemp and herb-based smokable alternatives. We have conducted research and development in the smokables space and are engaged in the manufacturing and sale of smokable hemp and herb products, including The Real Stuff Hemp Smokables. Our operational segments include private label manufacturing and sales, intellectual property licensing, and the development and sales of inhouse brands using patented counter displays. Our inhouse brands are currently sold in over 200 retail locations located in the San Diego, California, area, our private label customers include well-known and established companies in the cannabis and tobacco-alternatives industries, and we currently own approximately 600 kiosk vending machines which we plan to refurbish and use to distribute our products in a wider fashion under our HempBox Vending brand. Our hemp cigarette production facility, located in San Diego, California, has the capacity to produce up to 30 million cigarettes monthly. From our facility, we can ship small-to-large quantities of product—from single displays of product to targeted retail locations to truckloads of product to private label customers—with in-house processing, packing, and shipping capabilities. We believe that our manufacturing technologies will be a critical component of our success. We plan to continue to invest in research and development, and we currently have one approved patent and one patent pending with respect to our critical manufacturing processes. Our approved patent is an exclusivity patent to spray hemp with terpenes for flavoring or to add cannabidiol, which we refer to as CBD, or cannabigerol, which we refer to as CBG, and our pending patent relates to our flavored filter infusion technology. We also have several ready-to-file patent applications with respect to hemp manufacturing, hemp processing, design patents for hemp machines and merchandisers, and customized manufacturing equipment. We believe that we are positioned to rapidly grow our customer and product footprint through increasing marketing efforts, reaching agreements with master distributors who will sell to a broad network of retail establishments, and aggressively targeting additional distributors throughout the United States. We plan to drive and increase customer traffic with internet marketing to or with the clients that carry our products. We have also entered into several joint ventures to launch multiple new smokables brands: Cali Vibes D8, a joint venture focused on Delta 8 smokable products; Hemp Hop Smokables, a joint venture with rapper Rick Ross and Rap Snack's CEO James Lindsay; a joint venture with StickIt Ltd., an Israeli corporation, to manufacture cannabinoid sticks for insertion into other cigarettes; and a joint venture to launch Cheech & Chong-branded hemp smokables. We have launched a brand of flavored hemp rolling papers, and we also private label manufacture hemp rolling papers for third parties. We are currently manufacturing hemp rolling papers for HBI International, one of the leading smoking paper producers in the world, and we recently received our largest purchase order to date for approximately $9.2 million from HBI International's Skunk and Juicy brand to manufacture hemp rolling papers for it. (Note: Hempacco Co., Inc. reduced its IPO's size to 1.0 million shares, down from 3 million shares initially, and said the assumed IPO price is $6.00 – the high end of its previous range – in an S-1/A filing dated July 25, 2022. The IPO is now expected to raise $6 million – a 60 percent cut from the previous estimate of $15 million in IPO proceeds. Hempacco Co., Inc. filed terms for its IPO in an S-1/A filing dated June 16, 2022: 3 million shares at a price range of $4 to $6 to raise $15 million. The company filed its S-1 (prospectus) on March 24, 2022, after filing confidential IPO documents on Nov. 12, 2021.) ".

Hempacco Co., Inc. was founded in 2019 and has 12 employees. The company is located at 9925 Airway Road, San Diego, CA, 92154 and can be reached via phone at (619) 779-0715.

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