Nearly six months after announcing plans to go public via a SPAC merger, Seattle-based online cannabis marketplace Leafly has sealed the deal and will begin trading on the Nasdaq on Monday.
Leafly is merging with Merida Merger Corp., a special purpose acquisition company sponsored by Merida Capital Holdings. Merida has adopted the Leafly name, according to a Friday news release, and the common stock will trade under the ticker symbol LFLY.
In August, the proposed combined company was listed at an enterprise valuation of $385 million.
Founded in 2010, Leafly’s online marketplace lets customers shop and select cannabis products from licensed retailers. The startup also serves as an educational resource, and its platform has more than 125 million annual visitors.
Leafly CEO Yoko Miyashita said in a statement that becoming a public company was an important milestone for company.
“Backed by substantial funding, tremendous advancements in cannabis legalization and e-commerce tailwinds, we are relentlessly focused on investing in our technology, talent, and content to execute our growth strategy and create value for all stakeholders,” Miyashita said.
Sail and grow
Deep inside
The brave align
Green we stay
-Boss Keloid Lung Valley