Merida Merger Stock Gains Momentum Today On Convertible Note Financing 30M Dollars 

Today, Merida Merger’s stock market has become the primary driving element this week, rising by 18%. Yesterday, the price was rapidly slumped from $ 9.99 to $8.21, and now it is trading at $9.96. Recently the company revealed that together with Leafly Holdings Inc., a leading online cannabis search market, it has agreed to purchase $30 million worth of convertible bonds with new investors. Consequently, this agreement will be led by Cohanzick Management LLC and its affiliates (“Cohanzick”), an investment management firm. Under the agreement, $30 million will be carried out in unsecured convertible senior bonds maturing until 2025, and also the company agreed to pay Cohanzick a commission of 1.25%.

Merida Merger

Moreover, Merida Merger announced key news, the company had previously announced the business merger, initially scheduled for January 14, 2022, but the date is expected to be postponed to a later date to be announced. For that reason, the deadline for Merida public shareholders to request a share buyback will be extended to two working days before voting on the proposed business combination. Recall that Leafly is a rapidly developing platform with colossal brand loyalty and market leadership.

April Sanchez

Business and Tech Reporter

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