Wednesday, October 15, 2025

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Online Cannabis Platform Leafly To Be Taken Public By SPAC Merida Merger

Blank-check company Merida Merger Corp. I (Nasdaq: MCMJ) announced today that it has entered into a definitive agreement with online cannabis firm Leafly Holdings through a reverse merger. Following the transaction, Merida will adopt the Leafly name and will be expected to continue trading on the Nasdaq under the symbol “LFLY”.

The proposed transaction is set to put its diluted enterprise value at US$385 million and its equity value at US$532 million. Leafly shareholders will be rolling in 100% of their stocks and are expected to retain 72% equity of the resulting merger.

The transaction is also expected to generate proceeds up to US$161.5 million, including the recent US$31.5 funding raised by Leafly and participated by Merida Merger’s sponsor company Merida Capital Holdings, Delta Emerald Ventures, SOJE Capital, and existing shareholders.

The acquisition already received the approval of both parties’ boards and is expected to transpire in the fourth quarter of this year, subject to customary closing conditions.

Leafly provides a platform for 7,800 cannabis brands and 4,600 retail subscribers while engaging 10 million unique website visitors monthly.

Merida Merger last traded at $9.97 on the Nasdaq.


Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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