Tag: SPAC

Debra BorchardtFebruary 14, 2022
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5min00
Cannabis blank check company Relativity Acquisition has sold 12.5 million units at $10 each, and its underwriters have a 45-day option to buy up to an additional roughly 1.9 million units, which could raise another $18.75 million. Relativity Acquisition’s common stock is set to trade on the Nasdaq under the symbol “RACY” (the units will […]

Debra BorchardtFebruary 14, 2022
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5min00
Cannabis banking company Safe Harbor Financial (SHF, LLC) will go public through the SPAC (special purpose acquisition corporation) Northern Lights Acquisition Corp.  (NASDAQ: NLIT) has chosen it for the qualifying transaction. Safe Harbor is a subsidiary of Partner Colorado Credit Union, a Colorado-chartered credit union based in Arvada, Colorado. Safe Harbor will be led by Sundie Seefried, Founder […]

Debra BorchardtJanuary 21, 2022
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4min00
Silver Spike Acquisition Corp. II (NASDAQ: SPKB/SPKBU/SPKBW), a publicly-traded special purpose acquisition company or SPAC sponsored by an affiliate of Silver Spike Capital announced on Thursday that it has signed an agreement expected to make Eleusis a public company. Eleusis is a clinical-stage life science company that aims to unlock the therapeutic potential of psychedelics. […]

StaffDecember 1, 2021
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2min00
The newest cannabis SPAC (special purpose acquisition corp.) Canna-Global Acquisition Corp. (NASDAQ: CNGLU) priced its initial public offering of $200 million and began trading on the Nasdaq Global Market on Tuesday using the ticker symbol “CNGLU”. The SPAC said it has not selected a business combination target or spoken to any companies about becoming the […]

Debra BorchardtOctober 1, 2021
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6min02
Ceres Acquisition Corp. (NEO: CERE.U)(OTCQX: CERAF) has decided to call off the Business Combination Agreement dated February 21, 2021, with SH Parent, Inc. also known as Parallel. Ceres said it plans to continue looking for another company for its qualifying transaction before the deadline of March 3, 2022, unless of course that date is extended, with […]

StaffAugust 3, 2021
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4min00
Viridian Capital Advisors pointed out this week that while cannabis SPACs have finished approximately $5 billion of qualifying transactions, there is still plenty of money that remains to be invested. Viridian said it expects the second wave to be equally significant with approximately $5.9B of deals announced or projected. The company said in a recent […]

StaffMarch 24, 2021

4min00
The OTC Markets Group (OTCQX: OTCM) announced that the latest cannabis SPAC Mercer Park Brand Acquisition Corp. (OTCQX: MRCQF), trading today on OTCQX under the symbol “MRCQF.” Mercer Park has said it was formed with the intent to focus on branded product businesses in cannabis and/or cannabis-adjacent industries. Mercer Park Brand Acquisition Corp. is the fourth Special […]

Debra BorchardtMarch 15, 2021
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14min00
Cannabis SPAC (special purpose acquisition company)  Greenrose Acquisition Corp. (NASDAQ: GNRSU, GNRS, GNRSW) has entered into definitive agreements to acquire four cannabis companies, which it has dubbed The Platform. The companies are Shango Holdings Inc. (Shango), Futureworks LLC (d/b/a The Health Center), Theraplant, LLC, and True Harvest, LLC. The total initial transaction value is $210 Million […]

Debra BorchardtFebruary 22, 2021
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6min00
Privately-held multi-state cannabis operator Parallel and special purpose acquisition corporation (SPAC) Ceres Acquisition Corp.  (OTCQX: CERAF) have entered into a definitive business combination agreement involving a transaction that, if completed, would result in Parallel becoming a public company. The investors have an over-subscribed private investment in public equity (PIPE) of $225 million. The deal is […]

Debra BorchardtJanuary 15, 2021
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7min00
TPCO Holding Corp. (OTCQX: SBVCF, SBVQF) completed its qualifying transaction to acquire CMG Partners Inc. better known as Caliva and Left Coast Ventures, Inc. with global icon, entrepreneur and MONOGRAM founder, Shawn “JAY-Z” Carter and entertainment powerhouse Roc Nation. TPCO said it expects pro forma revenues of $334 million in 2021. Shawn “JAY-Z” Carter, The Parent Company’s Chief […]

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