SEATTLE & NEW YORK–(Company WIRE)–Leafly Holdings Inc. (“Leafly” or the “Company”), a primary on the web hashish discovery market and useful resource for hashish buyers, and Merida Merger Corp. I (NASDAQ: MCMJ) (“Merida”), a specific reason acquisition enterprise sponsored by Merida Money Holdings, now introduced the closing of their previously declared enterprise blend. In connection with the closing, Merida has adopted the Leafly identify, and Leafly’s frequent stock will start off trading on the NASDAQ Inventory Sector (“NASDAQ”) on February 7, 2022, below the ticker image “LFLY.”
Leafly has ongoing to construct momentum, reporting a sizeable acceleration in calendar year-about-year earnings advancement and gross margin, as nicely as a 40% raise in complete ending retail accounts, in the third quarter of 2021.
Since saying the proposed combination with Merida in the summertime of 2021, Leafly has released new benefit-driving equipment for brand names subscribers and improved its Iphone and iPad app to help people to position pickup orders for cannabis merchandise in lawful state marketplaces. The Business has also introduced a write-up-combination Board of Administrators with huge-ranging expertise and bolstered its executive leadership workforce with highly professional hires for Main Economic Officer, Normal Counsel, SVP of Sales, and SVP of Engineering.
“Backed by sizeable funding, great developments in hashish legalization and e-commerce tailwinds, we are relentlessly targeted on investing in our technological innovation, talent, and written content to execute our expansion tactic and develop worth for all stakeholders,” said Yoko Miyashita, Main Government Officer of Leafly. “Becoming a public enterprise is an critical milestone for the overall Leafly group and we thank Merida for their continued assistance and glimpse ahead to functioning with them and future shareholders to achieve new heights.”
Peter Lee, former President of Merida Merger Corp. I who will continue to provide as a member of the board of directors of the mixed business, reported, “Leafly has extended been a significant source in the cannabis ecosystem. With its a few-sided marketplace and unparalleled articles library, Leafly tends to make cannabis comprehensible and obtainable for people, shops, and makes alike – driving an outstanding flywheel impact and tremendous brand name loyalty throughout the country. Now, with an professional management group and substantial funding, Leafly is poised to acquire the next phase in its journey, and we are fired up to go on to play a position.”
Oppenheimer & Co. served as distinctive economic advisor to Leafly. Weil, Gotshal & Manges LLP served as authorized advisor to Leafly. EarlyBirdCapital, Inc. served as fiscal advisor to Merida. Cowen, Craig-Hallum Funds Team LLC, JMP Securities, LLC, and The Benchmark Enterprise, LLC served as capital marketplaces advisors to Merida. Cowen also served as a financial advisor on the beforehand declared $30 million convertible note financing led by Cohanzick Administration LLC. Graubard Miller served as authorized advisor to Merida.
Leafly allows tens of millions of men and women find hashish each individual yr. Our impressive equipment support purchasers make educated getting choices and empower hashish companies to attract and keep loyal clients as a result of marketing and engineering services. Master extra at Leafly.com or down load the Leafly mobile application by means of Apple’s Application Shop or Google Perform.
About Merida Merger Corp. I
Merida Merger Corp. I was a blank check firm formed for the function of moving into into a merger, share exchange, asset acquisition, stock invest in, recapitalization, reorganization or other comparable small business blend with one or much more firms or entities.
This push launch has sure forward-seeking statements in just the this means of the federal securities laws. These forward-searching statements normally are recognized by the text “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “forecast,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will keep on,” “will probably end result,” and related expressions (which include the adverse variations of these phrases or expressions).
Forward-hunting statements are predictions, projections and other statements about upcoming gatherings that are centered on latest expectations and assumptions and, as a result, are subject matter to hazards and uncertainties. Many aspects could result in genuine long term occasions to differ materially from the ahead-seeking statements in this press launch, like but not restricted to the dangers and uncertainties described in the “Risk Factors” part of the ultimate proxy assertion/prospectus/consent solicitation statement submitted by Merida with the SEC on December 10, 2021, the proxy assertion/prospectus/consent solicitation dietary supplement filed by Merida with the SEC on December 22, 2021, the proxy assertion/prospectus/consent solicitation complement filed by Merida with the SEC on January 18, 2022 and in the other paperwork submitted by Merida from time to time with the SEC. These filings identify and handle other vital threats and uncertainties that could result in real occasions and results to vary materially from those contained in the forward-on the lookout statements. Ahead-looking statements speak only as of the day they are manufactured. Audience are cautioned not to put undue reliance on forward-searching statements, and Merida assumes no obligation and, except as demanded by legislation, does not intend to update or revise these ahead-on the lookout statements, irrespective of whether as a end result of new information and facts, long term functions, or normally. Merida does not give any assurance that it will achieve its anticipations.
Supply: Leafly Holdings