Playboy’s stock has been on a tear as investors cheer the adult entertainment company’s reinvention and foray into non-fungible tokens.
Dealmaking in the frenzied cannabis market continues to flourish with the latest megadeal announced Thursday. Investors aim to build a Coca-Cola or Hershey of marijuana, launching the first national pot brand in the United States.
Now, you may have never heard of this type of investment vehicle, but they are making an impact on the finance sector of the cannabis industry.
Parallel (the “Company”), one of the largest privately-held multi-state cannabis operators in the United States (U.S.) and Ceres Acquisition Corp. (“Ceres”) (NEO: CERE.U, CERE.WT;OTCQX: CERAF), a special purpose acquisition corporation (SPAC), today announced they have entered into a definitive business combination agreement involving a transaction that, if completed, would result in Parallel becoming a public company (the “Transaction”).
SPACs were one of the big financial stories of 2020, given that they raised billions of dollars in the second half of the year. Given the amount of money flowing into SPACs, it’s not surprising that the cannabis industry turned to this new trend for financing.
SPAC Week returns with Joe Crouthers, Co-Founder and CEO of Ceres Group Holdings, who discusses why they’re focused on the plant-touching side of the sector.
The Parent Company, Formerly Subversive Capital Acquisition Corp., has Completed its Qualifying Transaction and is Now the Largest Vertically Integrated Cannabis Operation in California
Cannabis user-review site Weedmaps’ parent will go public at a $1.5 billion valuation through a merger with a blank-check firm, the company said on Thursday, as recent enthusiasm points to high growth for U.S. marijuana businesses over the coming years.
Billionaire Jay-Z is joining the company set to be California’s largest cannabis brand as a “chief visionary officer” as part of a SPAC deal announced on November 24. The deal will see a special purpose acquisition company, or SPAC, called Subversive Capital Acquisition Corp., acquiring cannabis brands Caliva and Left Coast Ventures to form The Parent Company, with deal close targeted for January 2021.
Silver Spike Acquisition Corp. has a liquidation deadline on February 12, 2021 and may announce a deal at any time between now and then.
The key focus will be whether the company will merge with a cannabis or non-cannabis target.
A Toronto-based company is set to become the first cannabis operation to transition to the real estate investment trust (REIT) model.
Special Purpose Acquisition Companies (SPACS) have had increased activity in the cannabis and hemp/CBD industries over the past year.
In 2020, most of the investments that were made in the cannabis space came from SPACs, or special purpose acquisition companies, Benzinga’s Javier Hasse said on this week’s BZ Cannabis Hour.
Real Money tapped an industry expert to discuss the outlook for buying and selling of cannabis companies. We’re finally positioned…