MERIDA MERGER CORP. I ANNOUNCES PRICING OF USD$120 MILLION INITIAL PUBLIC OFFERING
November 04 2019 - 10:50PM
Merida Merger Corp. I (Nasdaq: MCMJU NEO: MMK.UN) (the “Company”)
announced today that it priced its initial public offering of
12,000,000 units at USD$10.00 per unit. The units will commence
trading November 5, 2019 on Nasdaq under the symbol “MCMJU” and are
expected to commence trading on the Neo Exchange Inc. (the “NEO”)
on or about November 8, subject to satisfying certain listing
conditions, 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.
The underwriters have 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.
The offering is expected to close on or about
November 7, 2019, subject to customary closing conditions.
EarlyBirdCapital, Inc. is acting as sole book-running manager of
the offering. This offering is being made concurrently in each of
the provinces of Canada except Québec and in the United
States. EarlyBirdCapital has engaged Echelon Wealth Partners
Inc. to act as its agent to offer the units in each of the
provinces of Canada other than Québec.
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
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.
A Canadian final prospectus relating to up to
10,000,000 units of the offering has also been 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 offering discussed above will be
completed on the terms described, or at all, or 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 PresidentMerida Merger Corp.
Iplee@meridacap.com
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