Online cannabis marketplace Leafly is going public via merger with SPAC Merida Merger Corp.

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Online cannabis marketplace Leafly Holdings Inc. said Monday it's going nationalist by merging with peculiar intent acquisition corp Merida Merger Corp. I MCMJ, -0.20%, successful a woody with an endeavor worth of astir $385 cardinal and equity worth of astir $532 million. Once the woody has closed, Merida, which is backed by Merida Capital Holdings, volition alteration its sanction of Leafly and commercialized connected Nasdaq nether the ticker "LFLY." Seattle-based Leafly offers a subscription-based level of much than 7,800 brands and 4,600 retail customers. About 55% of North American retail licensees usage the service. Leafly is expected to make gross of astir $43 cardinal 2021 and astir $65 cardinal successful 2022. The woody is expected to adjacent successful the 4th quarter.

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