SPAC
Parallel to Go Public via SPAC in $1.8 Billion Deal
Parallel to Go Public via SPAC in $1.8 Billion Deal

Florida-headquartered cannabis firm Parallel will go public on Canada’s NEO Exchange in a SPAC deal valuing the firm at more than $1.8 billion.The multistate cannabis operator — led by William “Beau” Wrigley, the billionaire heir to the iconic namesake chewing gum enterprise — will merge with Ceres Acquisition Corp., a blank check company backed by music industry entrepreneur Scooter Braun.

Former Cresco and Green Thumb Execs Launch New Cannabis SPAC
Former Cresco and Green Thumb Execs Launch New Cannabis SPAC

Cresco Labs co-founder and former president Joe Caltabiano is launching a $100 million SPAC (special purpose acquisition corporation) aimed at acquiring cannabis companies in the U.S., Canada or international markets. The so-called blank check company, Choice Consolidation Corp., today filed a 137-page preliminary prospectus with Canadian Securities Administrators.

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