KushCo, a cannabis accessories maker, is planning to list on the NASDAQ as soon as its SEC inquiry closes.
The company announced on Thursday that the Securities and Exchange Commission (SEC) has decided not to pursue an enforcement action against it.
The SEC began an inquiry into KushCo after the company uncovered accounting errors that led it to restate annual financial statements for the years 2018 and 2017.
The SEC sent a subpoena to KushCo, which cooperated with the regulator’s efforts according to filings.
The cannabis-focused vape and package maker can now focus on getting listed on the big exchange.
The company has applied to list on the Nasdaq Global Select Market under the ticker KSHB.
KushCo Chief Executive Nick Kovacevich stated, “The next step is to gather internally and externally and our belief is that the SEC [matter] is the only gating item, and we’ve said that publicly.”