Leafly in talks to go public via merger with Merida merger corp
Top cannabis-focused website Leafly is in talks to merge with blank-check company Merida Merger Corp I in a deal that would value the combined company at more than $530 million. The SPAC is owned by Merida Capital Holdings, one of the biggest backers of Leafly, whose site visits have seen a meteoric rise thanks to easing regulations in the United States and rising weed use. The company plans use the proceeds from the deal partly to invest more into its east coast business.
Founded in 2010, Leafly was owned by cannabis-focused private equity group Privateer Holdings between 2012 and 2019. The company offers consumers ways to find weed stores to buy the cannabis strains they want, runs a pickup and delivery service and posts reviews on different cannabis products.