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Monday, June 14, 2021 4:58:32 PM
Have you ever heard of Glass House Group one of the largest growers in California? they merged with Mercer Park and have over 500,000Ft of canopy. The Founder of Ayer Welness is also the founder of Mercer Park and we all know how that SPAC turned out.
Mercer Park Brand Acquisition Corp. and Glass House Group Announce Business Combination to Create the Largest Cannabis Brand-Building Platform in California
Combination Creates the Most Expansive, Fully Integrated Cannabis Business in the World’s Largest Cannabis Market
Long-term Cultivation Expansion to 6 Million ft2 of State-of-the-Art Greenhouse Represents by Far the Largest Capacity of Any Cannabis Operator in California
Retail Footprint Expected to Reach 21 Operational Dispensaries by Q1 2022, More Than Double the Next Largest Retail Operator
Current Brand Portfolio Includes Glass House Farms – the #2 Ranked Flower Brand in California (YE2020 per BDS Analytics), as well as Forbidden Flowers and Mama Sue
Total Purchase Price Consideration of US$567 Million Represents a 2022E Revenue and Adjusted EBITDA Multiple of 1.7x and 5.5x, Respectively
Investors Commit to US$85 Million Private Placement; Combined Public Company Expected to Have up to $US355 Cash Balance at Closing
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