Mercer Park Brand Acquisition Corp. Announces Completion of IPO
Goodmans LLP represented Mercer Park Brand Acquisition Corp. (“BRND”) in connection with its initial public offering of U.S. $402,500,000 of Class A Restricted Voting Units (including U.S.$52,500,000 of Class A Restricted Voting Units issued on the exercise in full of the over-allotment option). This represents a total of 40,250,000 Class A Restricted Voting Units offered at a price of U.S. $10.00 per unit for total gross proceeds of U.S. $402,500,000. The proceeds from the distribution of the Class A Restricted Voting Units were deposited into an escrow account and will be released upon certain prescribed conditions, as further described in the final prospectus dated May 7, 2019.
BRND is a newly organized special purpose acquisition corporation formed for the purpose of effecting an acquisition of one or more businesses or assets within a specified period of time (a "Qualifying Transaction"). BRND intends to focus its search for targets that operate branded product businesses in cannabis and/or cannabis-adjacent industries; however, it is not limited to a particular industry or geographic region for purposes of completing its Qualifying Transaction.
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