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Insider Cannabis Newsletter: April 9

Insider Cannabis Newsletter: April 9
businessinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessinsider.com Daily Mail and Mail on Sunday newspapers.

MERCER PRK BRD AQ CL A by MERCER PARK BRAND ACQUISITION CORP (MRCQF) - Glass House Group To Go Public Via $567M SPAC Deal, Become Largest California Cannabis Company

Special purpose acquisition company Mercer Park Brand Acquisition Corp. (NEO:BRND.A.U) (OTCQX:MRCQF) announced Thursday afternoon it will acquire vertically integrated California cannabis operator Glass House Group for $567 million. The deal implies a $1.024-billion equity valuation and an approximate enterprise valuation of $691 million. Following the transaction, Glass House Group will be listed on the NEO Exchange under the “GLAS.U” ticker, becoming the largest California cannabis company to date. The transaction expected to close in first half of 2021. “When we formed Mercer Park BRND, we aimed to create a platform that could launch the first national cannabis brands in the United States,” said BRND Chairman Jonathan Sandelman. “We view successful cannabis brand-building as a combination of four factors: the ability to control quality biomass at a large scale; produce at the most competitive costs; offer the highest quality products; and deliver the best value pr

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