Atlantic Canada has minted its first publicly traded unicorn: Dartmouth’s Metamaterial Inc.
The company began trading on the Nasdaq stock exchange Monday thanks to a reverse acquisition of Texas-based Torchlight Energy Resources. By afternoon, Meta boasted a market capitalization (the total value of its shares) of about US$1.47 billion, or more than C$1.8 billion.
The deal is part of a trend of Atlantic Canadian innovation companies raising money from public markets. Innovacorp Vice President of Investment Andrew Ray, whose venture capital fund was Meta’s first institutional investor, said