Online cannabis marketplace Leafly is going public via merger with SPAC Merida Merger Corp.

Online cannabis marketplace Leafly Holdings Inc. said Monday it's going nationalist by merging with peculiar intent acquisition corp Merida Merger Corp. I MCMJ, -0.20%, successful a woody with an endeavor worth of astir $385 cardinal and equity worth of astir $532 million. Once the woody has closed, Merida, which is backed by Merida Capital Holdings, volition alteration its sanction of Leafly and commercialized connected Nasdaq nether the ticker "LFLY." Seattle-based Leafly offers a subscription-based level of much than 7,800 brands and 4,600 retail customers. About 55% of North American retail licensees usage the service. Leafly is expected to make gross of astir $43 cardinal 2021 and astir $65 cardinal successful 2022. The woody is expected to adjacent successful the 4th quarter.