Merida Merger Corp. I Announces Closing of USD$120 Million Initial Public Offering
08 11월 2019 - 3:52AM
Merida Merger Corp. I (Nasdaq: MCMJU NEO: MMK.UN) (the “Company”)
announced today that it consummated its initial public offering of
12,000,000 units at USD$10.00 per unit, resulting in gross proceeds
of $120,000,000.
The units began trading on November 5, 2019 on
Nasdaq under the symbol “MCMJU” and began trading on the Neo
Exchange Inc. (the “NEO”) on November 7, 2019, under the symbol
“MMK.UN”. Each unit consists of one share of common stock of the
Company (“Common Stock”), and one-half of one redeemable
warrant (“Warrant”) with each whole Warrant entitling the holder to
purchase one share of Common Stock at a price of USD$11.50 per
share. Once the securities comprising the units begin separate
trading, the Common Stock and Warrants are expected to be traded on
Nasdaq under the symbols “MCMJ”, and “MCMJW” and on the NEO under
the symbols “MMK.U” and “MMK.WT.U”, respectively.
EarlyBirdCapital has been granted
a 45-day option to purchase up to an additional 1,800,000
units offered by the Company to cover over-allotments, if any.
EarlyBirdCapital, Inc. acted as sole
book-running manager of the offering. EarlyBirdCapital engaged
Echelon Wealth Partners Inc. to act as its agent to offer up to
10,000,000 units in each of the provinces of Canada other than
Québec pursuant to a prospectus.
Of the proceeds received from the consummation
of the initial public offering and a simultaneous private placement
of warrants, $120,000,000 (or $10.00 per unit sold in the public
offering) was placed in trust. An audited balance sheet of the
Company as of November 7, 2019 reflecting receipt of the proceeds
upon consummation of the initial public offering and the private
placement will be included as an exhibit to a Current Report on
Form 8-K to be filed by the Company with the Securities and
Exchange Commission (“SEC”).
A registration statement relating to these
securities has been declared effective by the Securities and
Exchange Commission on November 4, 2019.
The offering is being made in the United States
only by means of a prospectus, copies of which may be obtained by
contacting EarlyBirdCapital, Inc., 366 Madison Avenue, 8th Floor,
New York, NY 10017, Attn: Syndicate Department, 212-661-0200.
Copies of the registration statement can be accessed through the
SEC’s website at www.sec.gov.
The offering is being made in Canada in each of
the provinces of Canada except Québec through a Canadian final
prospectus dated November 4, 2019 relating to up to 10,000,000
units of the offering, which was filed with securities commissions
or similar authorities in each of the provinces
of Canada other than Québec. The final prospectus
contains important detailed information about the securities being
offered. Copies of the final prospectus will be available on SEDAR
at www.sedar.com. Copies of the final prospectus may also be
obtained from Echelon Wealth Partners Inc.,
at ECM@echelonpartners.com. Investors should read the
prospectus before making an investment decision.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Merida Merger Corp. I
Merida Merger Corp. I is a blank check company
formed for the purpose of entering into a merger, share exchange,
asset acquisition, stock purchase, recapitalization, reorganization
or other similar business combination with one or more businesses
or entities. The Company’s efforts to identify a prospective
target business will not be limited to a particular industry or
geographic region although it intends to focus its search for
target businesses in the cannabis industry.
Forward Looking Statements
This press release includes forward-looking
statements that involve risks and uncertainties. Forward looking
statements are statements that are not historical facts. Such
forward-looking statements, including with respect to the initial
public offering and the anticipated use of the proceeds thereof,
are subject to risks and uncertainties, which could cause actual
results to differ from the forward looking statements, including
those set forth in the risk factors section of the prospectus used
in connection with the Company’s initial public offering. No
assurance can be given that the net proceeds of the offering will
be used as indicated. The Company expressly disclaims any
obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in the Company’s expectations with respect
thereto or any change in events, conditions or circumstances on
which any statement is based, except as required by law.
Contact: Peter Lee President
Merida Merger Corp. I plee@meridacap.com
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