Cannabis online marketplace company Leafly Holdings Inc. and the SPAC (special purpose acquisition company) Merida Merger Corp. I sponsored by Merida Capital Holdings have signed a definitive agreement for a business combination. When the transaction is complete, Merida will adopt the Leafly name, and its common stock is expected to be listed on the NASDAQ under the ticker symbol LFLY. The combined company’s transaction values 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. It is expected to close in the fourth quarter of 2021. 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.
William Pressley, Green Market Report, 08/09/2021 08:39:00
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