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Online cannabis discovery marketplace Leafly Holdings Inc. and Merida Merger Corp. I (NASDAQ:MCMJ), a special purpose acquisition company sponsored by Merida Capital Holdings, announced the closing of their previously announced business combination. In connection with the closing, Merida has adopted the Leafly name, and Leafly’s common stock will begin trading on the NASDAQ Stock Market on February 7, 2022, under the ticker symbol “LFLY.”
Since announcing the proposed combination with Merida in the summer of 2021, Leafly has introduced new value-driving tools for brands subscribers and enhanced its iPhone and iPad app to enable users to place pickup orders for cannabis products in legal state markets. The company has also announced a post-combination board of directors with wide-ranging expertise and bolstered its executive leadership team with highly experienced hires for chief financial officer, general counsel, SVP of sales, and SVP of engineering.
“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,” Yoko Miyashita, CEO of Leafly stated. “Becoming a public company is an important milestone for the entire Leafly team and we thank Merida for their continued support and look forward to working with them and future shareholders to achieve new heights.”
Peter Lee, former president of Merida Merger Corp. I who will continue to serve as a member of the board of directors of the combined company, said, “Leafly has long been a critical resource in the cannabis ecosystem. With its three-sided marketplace and unparalleled content library, Leafly makes cannabis understandable and accessible for consumers, retailers, and brands alike – driving an incredible flywheel effect and tremendous brand loyalty across the country. Now, with an experienced management team and substantial funding, Leafly is poised to take the next step in its journey, and we are excited to continue to play a role.”
Photo: Courtesy of Kym MacKinnon on Unsplash
Posted In: MCMJ
