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%.
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.