Merida Merger Corp I eyes open at 4-month high on merger with Leafly

Leafly Holdings

09/08/2021 13:57

** Blank-check company's shares  MCMJ.O  up nearly 1% at
$10.08 premarket; stock set to open at highest in four months
    ** Merida to take cannabis-focused website Leafly public,
the companies said on Monday  urn:newsml:reuters.com:*:nL4N2PG2BM
    ** Deal, which was reported https://www.reuters.com/business/exclusive-top-cannabis-site-leafly-talks-go-public-via-blank-check-merger-2021-08-06
 by Reuters last week, to give combined company an equity value
of $532 mln
    ** MCMJ backed by Merida Capital Holdings, is one of the
biggest investors of Leafly
    ** Deal will generate proceeds of $161.5 mln for combined
company
    ** SPAC Merida raised $120 mln in its IPO in November 2019
    ** Oppenheimer & Co exclusive financial adviser to Leafly,
EarlyBirdCapital Inc advised Merida on deal
    ** Deal expected to close in Q4 2021

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com))