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$NGA Transaction Summary
Transaction
~ Northern Genesis Acquisition Corp. (“Northern Genesis”) (NYSE: NGA) is a publicly listed special purpose
acquisition company with ~$320mm cash held in trust
~ The Lion Electric Co. (“Lion”), a designer, manufacturer and distributor of all-electric medium and heavy-duty
urban vehicles, to combine with Northern Genesis
~ Lion to be the surviving entity; name to be The Lion Electric Company upon closing of the transaction
Listing / Ticker
~ Pro forma company expected to trade on the NYSE under the new ticker symbol “LEV”
Valuation
~ Transaction values the combined entity at an enterprise value of ~$1.5bn
Transaction Proceeds
~$500mm(1) of cash to pursue Lion’s growth strategy based on cash held in trust and PIPE proceeds
~ $200mm fully committed PIPE offering to close concurrently with business combination
~ Growth strategy includes expansion of manufacturing capacity in the U.S., development and automated
assembly of advanced battery systems and other general corporate purposes
~ Expected Closing: Q1 2021
SPAC ATTACK!!!
I like the $10.00 entry.
Looking for new ticker. Choice Consolidation.
Investors Can’t Get Enough of Europe’s New SPAC Kingpins
https://www.bnnbloomberg.ca/investors-can-t-get-enough-of-europe-s-new-spac-kingpins-1.1569376
SPAC NEWS 2-24-21 $AONE/WS $DMYI/WS $RAAC $RAACW $RMBG $RTP/WS
the "R's" have it ....did I miss any new SPAC's? let me know~!
IHUB discussion board
VRNO Verano Holdings 02/17/2021 07:34:59 PM
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Owner of Zen Leaf marijuana shops soars on first day of trading, boosting Chicago’s role as corporate weed capital of U.S.
By ROBERT CHANNICK
CHICAGO TRIBUNE
FEB 17, 2021 AT 3:48 PM
Verano Holdings began trading Wednesday on the Canadian Securities Exchange, becoming the third Chicago weed company to go public north of the border.
The company completed a complex reverse merger last week, raising $100 million through a subscription offering that valued Verano at $2.9 billion. The stock will trade under the ticker symbol VRNO.
The deal included a merger with a Florida-based cannabis company, Alternative Medical Enterprises, giving Verano a 14-state footprint with production facilities and retail dispensaries operating mostly under the Zen Leaf and MUV banners. MUV is the name of Alternative Medical Enterprises’ stores and product.
George Archos, 41, a co-founder and CEO of Verano, said going public will enable the company to continue to expand as more states legalize recreational marijuana.
“We would like to continue to expand within our current footprint, if we’re allowed by regulatory bodies within those states,” Archos said. “Then depending on our bandwidth and how things are moving along and what’s happening across the country, we’ll look at expansion outside of our footprint.”
The Verano IPO priced 10 million shares at $10 each, which is about $12.70 in Canadian dollars. The stock closed at CA$31.40 a share on the first day of trading Wednesday, boosting Verano’s market cap to nearly US$7.2 billion.
Verano was started as an Illinois medical marijuana growing operation in 2014 by Archos, a restaurateur whose culinary portfolio includes four Wildberry Pancakes and Café locations in Chicago and the suburbs.
Illinois remains at the center of Verano’s operations, with eight retail locations in the state. The newest is a Zen Leaf dispensary in northwest suburban Prospect Heights, which opened in December.
About a third of the company’s 1,600 employees are in Illinois, Archos said, a number he expects to grow as the company scales up.
Weed is legal in 36 states, including 15 that allow recreational use, though a November ballot initiative that legalized it in South Dakota is being challenged in court. Illinois legalized recreational marijuana at the beginning of 2020, and last year topped $1 billion in sales at more than 80 retail dispensaries across the state.
Chicago, by way of Canada, has become the corporate nexus of publicly traded weed companies in the U.S.
Verano joins Chicago-based competitors Green Thumb and Cresco Labs on the Canadian Securities Exchange. Companies are unable to trade on U.S. exchanges because weed is a still a federally controlled substance.
A fourth Chicago-based company, Choice Consolidation, filed an updated prospectus last week looking to raise $150 million through an initial public offering, also on the Canadian exchange. The company, led by Joe Caltabiano, co-founder and former president of Cresco, plans to use the proceeds to buy existing cannabis businesses across the U.S.
Archos said stricter Illinois regulations weeded out less business-savvy operators and helped Illinois companies succeed in other states as well.
“Illinois started its program as one of the most heavily regulated the industry,” Archos said. “And for the first time you had some real entrepreneurs that were business-oriented that entered the cannabis industry. So I think that you have seen some of the strongest multistate operators come out of Chicago.”
Research firm Euromonitor projects legal cannabis sales will more than triple to $98 billion globally by 2025.
The appetite for investing in the cannabis industry is growing, but has been limited because the substance remains illegal under federal law, which has discouraged some banks from lending money and forced public companies to trade in Canada.
The regulatory climate may be changing, however.
Green Thumb, which began trading in Canada in 2018, broke new ground with an initial public offering last week registered with the Securities and Exchange Commission, with an undisclosed institutional investor buying $100 million worth of the subordinate voting shares.
“The capital forming around the business is important, because it tells you that people see the upside, and they see the potential going forward,” said Andy Grossman, head of capital markets for Green Thumb, which has a market capitalization of about $8 billion.
Grossman said the promise of a more favorable federal regulatory environment under the Biden administration, from less restrictive banking laws to full legalization, may be emboldening investors and unleashing pent-up demand.
But Eric Berlin, an attorney with the Chicago-based cannabis legal team at the law firm Dentons, said trading may still be exiled to Canada for a few more years, with the U.S. exchanges unwilling to list companies that sell a federally controlled substance.
“I think that we have a good chance of getting some cannabis reform passed through Congress in the next two years,” Berlin said. “I am skeptical that we’ll see a truly plant-touching company listed on one of the exchanges this year.”
OTC Markets
Canndoc
Choice Consolidation
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VRNO:CA
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$VRNO ty for the info
VRNO IPO (reverse merger) tomorrow Canada.
VERANO HOLDINGS
https://veranogrown.com/
our footprint
14 total markets
11 operations markets
8 cultivation & production facilities
54 operational retail locations
76 total planned retail locations
VRNO IPO (reverse merger) tomorrow Canada.
VERANO HOLDINGS
https://veranogrown.com/
our footprint
14 total markets
11 operations markets
8 cultivation & production facilities
54 operational retail locations
76 total planned retail locations
2 BIG CANNABIS COMPANIES ON THE WAY
VERANO - VRNO (CSE) 02/17/2021
CHOICE CONSOLIDATION (NO TICKER YET)
$PSTH my #1 SPAC right now... ~$20 floor here... Think something big is near....
Wunong Net Technology Company (WNW) aims to raise $37 million in an IPO of its ordinary shares, according to an F-1 registration statement. Shenzhen, China-based Wunong was founded to create a food marketplace website that sells agriculture products to a variety of end users such as consumers, restaurants, lodging facilities and others.
IPO Launch: Wunong Net Technology Aims For $37 Million U.S ...
www.thestreet.com/ipo/news/wunong-net-technology-ipo-launch
www.thestreet.com/ipo/news/wunong-net-technology-ipo-launch
$TTCF Tattooed Chef, Inc. Analyst Day Webcast
Link:
https://viavid.webcasts.com/starthere.jsp?ei=1411310&tp_key=b23aa2f8d2
$LCA Landcadia II Announces Special Meeting Date To Approve Proposed Business Combination With GNOG
HOUSTON, Dec. 3, 2020 /PRNewswire/ -- Landcadia Holdings II, Inc. ("Landcadia II" or the "Company") (Nasdaq: $LCA ) announced today that it has scheduled the special meeting in lieu of the 2020 annual meeting of its stockholders (the "Special Meeting") for December 18, 2020 at 10:30 a.m., Eastern time, to, among other things, approve the proposed business combination (the "Business Combination") between Landcadia II and Golden Nugget Online Gaming, LLC ("GNOG"). The Company also announced that it has filed its definitive proxy statement for the Special Meeting and has commenced mailing the definitive proxy statement to its stockholders of record as of October 29, 2020, the record date for the Special Meeting (the "Record Date"). The closing of the Business Combination is subject to approval by Landcadia II's stockholders and the satisfaction of other customary closing conditions and is expected to close as soon as practicable following the Special Meeting.
Your vote is important no matter how many shares you own. You are encouraged to submit your vote as soon as possible. If you hold your shares in "street name," meaning that your shares are held at an account at a brokerage firm, bank or other similar agent, you may vote prior to the Special Meeting by using your voting control number and instructions provided to you by your brokerage firm, bank or other similar agent. Please contact your brokerage firm, bank or other similar agent to ensure your shares are voted. If you are a stockholder of record, you may vote prior to the Special Meeting by signing, dating, and mailing your proxy card in the return envelope provided with your proxy material.
If you have any questions or need assistance voting your shares, please contact Morrow Sodali LLC, our proxy solicitor, by calling (800) 662-5200, or banks and brokers can call collect at (203) 658-9400, or by emailing LCA.info@investor.morrowsodali.com.
About GNOG
Golden Nugget Online Gaming, Inc. is a leading online gaming company that is owned by a company wholly owned by Tilman J. Fertitta. It is considered a market leader by its peers and was first to bring Live Dealer and Live Casino Floor to the United States online gaming market. GNOG was the recipient of 15 eGaming Review North America Awards, including the coveted "Operator of the Year" award in 2017, 2018, 2019 and 2020.
About Landcadia Holdings II, Inc.
Landcadia Holdings II, Inc. is a company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses that is co-sponsored by Fertitta Entertainment, Inc. and Jefferies Financial Group Inc.
Important Information About the Business Combination and Where to Find It
Landcadia II has filed a definitive proxy statement with the Securities and Exchange Commission (the "SEC") for the Special Meeting to be held in connection with its Business Combination with GNOG. Landcadia II's stockholders and other interested persons are advised to read the definitive proxy statement and documents incorporated by reference therein filed in connection with the Business Combination, as these materials contain important information about GNOG, Landcadia II and the Business Combination. The definitive proxy statement and other relevant materials for the Special Meeting were mailed to stockholders of Landcadia II as of the Record Date. Landcadia II's stockholders may also obtain copies of the definitive proxy statement and other documents filed with the SEC that will be incorporated by reference therein, without charge, at the SEC's web site at www.sec.gov, or by directing a request to: Landcadia Holdings II, Inc., 1510 West Loop South, Houston, Texas 77027, Attention: General Counsel, (713) 850-1010.
Participants in the Solicitation
Landcadia II and its directors and executive officers may be deemed participants in the solicitation of proxies from Landcadia II's stockholders with respect to the Business Combination. A list of the names of those directors and executive officers and a description of their interests in Landcadia II is contained in Landcadia II's definitive proxy statement, which was filed with the SEC and is available free of charge at the SEC's web site at www.sec.gov, or by directing a request Landcadia Holdings II, Inc., 1510 West Loop South, Houston, Texas 77027, Attention: General Counsel, (713) 850-1010.
GNOG and its directors and executive officers may also be deemed to be participants in the solicitation of proxies from the stockholders of Landcadia II in connection with the Business Combination. A list of the names of such directors and executive officers and information regarding their interests in the Business Combination is included in the proxy statement for the Business Combination.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Landcadia II's and GNOG's actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Landcadia II's and GNOG's expectations with respect to future performance and anticipated financial impacts of the Business Combination, the satisfaction of the closing conditions to the Business Combination and the timing of the completion of the Business Combination. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside Landcadia II's and GNOG's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the purchase agreement for the Business Combination (the "Purchase Agreement") or could otherwise cause the Business Combination to fail to close, (2) the outcome of any legal proceedings that may be instituted against Landcadia II and GNOG following the announcement of the Purchase Agreement and the transactions contemplated therein; (3) the inability to complete the Business Combination, including due to failure to obtain approval of the stockholders of Landcadia II or satisfy other conditions to closing in the Purchase Agreement; (4) the impact of COVID-19 on GNOG's business and/or the ability of the parties to complete the Business Combination; (5) the inability to obtain or maintain the listing of Landcadia II's shares of common stock on The Nasdaq Stock Market following the Business Combination; (6) the risk that the Business Combination disrupts current plans and operations as a result of the announcement and consummation of the Business Combination; (7) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of GNOG to grow and manage growth profitably and retain its key employees; (8) costs related to the Business Combination; (9) changes in applicable laws or regulations; (10) the possibility that GNOG or Landcadia II may be adversely affected by other economic, business, and/or competitive factors; and (11) other risks and uncertainties indicated from time to time in the proxy statement relating to the Business Combination, including those under "Risk Factors" therein, and in Landcadia II's other filings with the SEC. The foregoing list of factors is not exclusive. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Neither GNOG nor Landcadia II undertakes or accepts any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
No Offer or Solicitation
This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the Business Combination. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.
Cision View original content:http://www.prnewswire.com/news-releases/landcadia-ii-announces-special-meeting-date-to-approve-proposed-business-combination-with-gnog-301185535.html
SOURCE Landcadia Holdings II, Inc.
Copyright 2020 PR Newswire
Landcadia Holdings II (NASDAQ:LCA)
Historical Stock Chart
From Nov 2020 to Dec 2020 Click Here for more Landcadia Holdings II Charts.
"The Big Short"
From eTrade
Fidelity Investments
DASH
Verano announced that it will IPO sometime in the next few weeks.
It will be the 5th biggest MSO.
A few facts:
-Founded in 2014
-Has around 1600 employees
-Has 8 cultivation & production facilities
-Has just under 700k sq.ft cultivation space.
-It operates in 14 states.
-Currently has 46 retail locations (76 planned)
-Est. 2021 revenue at US$790M
$LCA Golden Nugget Online Gaming Secures West_Virginia_Market_Access
https://apnews.com/press-release/pr-newswire/travel-business-sports-technology-lifestyle-c0757357b99e6b7601cf9cb115d0c9f8
IPO Candy
With the election results behind us (finally) the IPO market is getting back to work. There are a handful of deals in marketing as we start the week but this number is likely to expand rapidly as companies try and get out during the pre-Thanksgiving holiday window. There were also some recent filings including the "Russian Amazon", Ozon (OZON), which are likely to get our attention.
Another new development this week is a de-SPAC that is marketing a private placement as part of their business combination using the traditional IPO roadshow process. I wonder if we'll see more of this. The company is Finance of America which is the target of Replay Acquisition Corp (RPLA). The company is another player in residential mortgage but aims to provide a broader range of product types like reverse mortgages and "fix and flip" quasi-commercial loans in addition to regular mortgages. You can see their marketing deck on SPACvest: Finance of America.
Aeva is another technology company specializing in what they call "4D LiDAR" has announced their plans to come public via a SPAC, InterPrivate Acquisition (IPV). We now have Velodyne Lidar (VLDR) and Luminar (GMHI) in this group. The presentation is posted at both IPO Candy and SPACvest. Here's a link for it: InterPrivate proposed combination with Aeva.
THIS WEEK - This week we will see a handful of deals priced but the fireworks will probably begin next week with an eye to price by the 20th.
IN8Bio (INAB) is the larger deal on the calendar for this week but still it's only $75M in size with a $325M market cap. This is another T cell-based cancer therapy developer with two drugs in Phase 1 trials. Current range is $15-17 with Barclays leading.
Compass Therapeutics (CMPX) is similar in size and is also a cancer treatment although they are instead focused on regulating immune response in certain cancer patients. Current range is $5-6 with Citi and Credit Suisse leading.
There's a very small holdover deal, Inhibikase Therapeutics (IKT) that is still on the calendar and could price this week. It's only a $15M deal at a $140M market cap with ThinkEquity leading. They are targeting Parkinson's Disease and have a drug candidate that they expect to commence dosing as soon as the deal is complete. That suggests they are open to increasing the size of the deal while reducing the share price to get it done. Current range is $10-12.
There's also a SPAC on the calendar - Natural Order Acquisition (NOAC) is offering $200M to find a combination in "plant-based food and beverages." We're pretty happy with Tattooed Chef (TTCF) which came out of the FMCI SPAC. And of course Beyond Meat (BYND) remains the big leadership name in this group sporting a 25x P/S ratio and a $10B market value.
We're not planning to dig into these but expect to start working on the deals coming next week. We also have a few additional updates for the Model Portfolio that we missed when we did our update last week: Model Portfolio Changes November 2020.
FarFetch (FTCH) sure started out of the gate at a gallop thanks to a huge investment which is a signal that they are likely to remain in the leadership position when it comes to high fashion and e-commerce.
Let's hope we can all put our differences aside and work together to make things better for everybody.
source
I get it GC. Now leave me alone. You are spamming my inbox.
Get with the game..yer not following
$FMCI Investor Presentation
Presentation Link:
https://forummerger.com/tcip.pdf
Bookmarked !
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