Leafly to Go Public Through Business Combination with Merida Merger Corp. I

Cannabtimes

<![CDATA[SEATTLE and NEW YORK, Aug. 9, 2021 /PRNewswire/ — PRESS RELEASE — Leafly Holdings Inc., an online cannabis discovery marketplace and resource for cannabis consumers, and Merida Merger Corp. I (NASDAQ: MCMJ), a special purpose acquisition company sponsored by Merida Capital Holdings, today announced that they have entered into a definitive agreement with respect to a business combination. Upon completion of the proposed transaction, Merida will adopt the Leafly name and its common stock is expected to be listed on the NASDAQ under the ticker symbol LFLY. The transaction values the combined company at an implied, fully diluted enterprise value of approximately $385 million and equity value of approximately $532 million, subject to any redemptions by Merida stockholders.Based in Seattle, Wash., Leafly is a content-first, community-driven, three-sided marketplace that attracts the world’s largest cannabis audience. Across its website and mobile app, Leafly empowers a highly engaged audience of more than 125 million annual visitors to understand, select and reserve cannabis products from licensed retailers.Leafly provides a subscription-based platform for more than 7,800 brands and 4,600 paying retail subscribers. Approximately 55% of North American retail licensees are currently subscribed to its marketplace and advertising services. As a non-plant touching platform with leading brand recognition, a user-friendly experience, and an established position in core growth markets, Leafly is well positioned to capitalize on accelerating legalization trends and e-commerce adoption across North America.Yoko Miyashita, chief executive officer of Leafly, said, "For the past decade, we have focused on building a unique, legally compliant marketplace with an equal emphasis on educating consumers and enabling them to reserve cannabis products from legal, reputable providers. With this transaction, we are looking forward to entering the next phase of our company’s journey – creating more personalized consumer experiences, driving more value to our retail partners, amplifying brands…

Excerpt only …
READ MORE BELOW
Source : Leafly to Go Public Through Business Combination with Merida Merger Corp. I

reposted by Cannabis News World

This site uses Akismet to reduce spam. Learn how your comment data is processed.