Weedmaps, the oft-controversial but ever-successful cannabis advertising giant, is going public through a deal that values the company produced through the transaction at a whopping $1.5 billion.
According to a news release, the website’s owners, WM Holding Co., will merge with blank-check acquisition firm Silver Spike Acquisition Corp. to land a listing on the Nasdaq.
The release noted the transaction will provide up to $575 million of gross proceeds, including $325 million through a fully committed common stock PIPE, or private investment in public equity transaction.
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