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Sunday, December 20, 2020 9:12:27 AM
CLVR Stock: 12 Things to Know as Cannabis Play Clever Leaves Starts Trading
After trading via a blank-check company, Clever Leaves is making its Nasdaq debut today
By Sarah Smith,
InvestorPlace
Dec 18, 2020
The Nasdaq Exchange is looking a bit green today. Why? Well, after months of trading through a special purpose acquisition company, Clever Leaves is coming public. Starting today, the cannabis play will be trading on the Nasdaq under the ticker CLVR.
So what do you need to know about CLVR stock now? And why does this SPAC merger news matter?
To start, investors should be familiar with the basics of the story. Essentially, Clever Leaves has been trading through Schultze Special Purpose Acquisition (NASDAQ:SAMA). After shareholders took a favorable vote on the SPAC merger, Clever Leaves is making its debut.
With that in mind, here are 12 things to know about CLVR stock and the Clever Leaves SPAC merger:
Schultze Special Purpose Acquisition first came public in December 2018 under the leadership of distressed debt investor George Schultze.
Since then, the blank-check company has been largely flying under the radar.
However, it announced the Clever Leaves SPAC merger in July 2020.
At the time, the two companies announced that the post-merger business would have an enterprise value near $255 million.
Now, as CLVR stock debuts, Clever Leaves will have $80 million of cash on its balance sheet.
Importantly, Clever Leaves focuses on the medical and recreational cannabis markets.
It currently operates in Colombia, Portugal, the United States, Canada and Germany.
Across those operations, it has 1.9 million square feet of greenhouses.
Additionally, Clever Leaves exports its medical-use cannabis to 14 different countries.
Beyond its cannabis brands, Clever Leaves also works on developing unique strains of cannabis, as well as cannabis research and development.
The company says its focus is on ecologically sustainable and large-scale cultivation.
Investors should also note that the company emphasizes its compliance with federal and state laws.
So why does this really matter? And why should investors pay attention to CLVR stock?
Well, investors likely know that times have been tough for cannabis businesses. Especially since the start of the novel coronavirus pandemic, some of the leading Canadian firms have really struggled. This comes as companies sort out supply-demand imbalances and also combat black-market suppliers. Plus, legalization in the U.S. at the federal level is still in the works. On that backdrop, we have seen things starting to really shakeup in the industry. Earlier this week, Tilray (NASDAQ:TLRY) and Aphria (NASDAQ:APHA) announced a huge, new merger.
Now, Clever Leaves wants to come public, relying on its SPAC merger to help it expand and grow its business. Additionally, as the company distributes non-cannabis products through one of its consumer brands, it believes that it has good access to the U.S. while it waits for federal legalization. And that is exactly where any intrigue in CLVR stock comes from.
Remember, the cannabis landscape looks to be rapidly changing. President-elect Joe Biden has promised to federally decriminalize marijuana. The House of Representatives just passed the Marijuana Opportunity Reinvestment and Expungement (MORE) Act. Plus, on Election Day, several more states decriminalized or legalized recreational cannabis use. With more set to do the same in 2021, CLVR stock maybe picking the perfect time to start trading.
As with anything in Washington, it is impossible to predict the future. However, given the timing of the SPAC merger news, investors should keep Clever Leaves and CLVR stock on their radar.
Recent CLVR News
- Clever Leaves Announces Voluntary Delisting and SEC Deregistration • GlobeNewswire Inc. • 04/26/2024 08:10:00 PM
- Clever Leaves Reports Fourth Quarter and Full Year 2023 Results • GlobeNewswire Inc. • 04/01/2024 08:01:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/29/2024 09:01:46 PM
- Clever Leaves and Paradise Seeds to Develop and Register Genetic Assets in Colombia • GlobeNewswire Inc. • 02/13/2024 01:30:00 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 02/01/2024 10:13:19 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/01/2024 09:11:09 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/23/2024 09:04:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/23/2024 09:03:21 PM
- Clever Leaves Granted Australian GMP Certification for Cannabis Products by the Therapeutic Goods Administration (TGA) • GlobeNewswire Inc. • 01/03/2024 01:30:00 PM
- Form 4/A - Statement of changes in beneficial ownership of securities: [Amend] • Edgar (US Regulatory) • 12/22/2023 09:19:16 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/21/2023 09:13:14 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/21/2023 09:11:45 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/20/2023 10:00:34 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 11/09/2023 09:09:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/09/2023 09:07:10 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/09/2023 09:04:18 PM
- Clever Leaves Reports Third Quarter 2023 Results • GlobeNewswire Inc. • 11/09/2023 09:01:00 PM
- Clever Leaves to Hold Third Quarter 2023 Conference Call on Thursday, November 9, 2023 at 5:00 p.m. ET • GlobeNewswire Inc. • 11/02/2023 12:30:00 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 10/23/2023 08:52:23 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/23/2023 08:15:43 PM
- Clever Leaves Regains Compliance with Nasdaq Minimum Bid Price Requirement • GlobeNewswire Inc. • 09/13/2023 12:30:00 PM
- Clever Leaves Cannabis Operations Declared Carbon Neutral; a First for a Vertically Integrated Medicinal Cannabis Company • GlobeNewswire Inc. • 08/29/2023 01:00:00 PM
- Form 8-A12B - Registration of securities [Section 12(b)] • Edgar (US Regulatory) • 08/25/2023 08:08:15 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 08/24/2023 01:10:48 PM
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