Cannabis company Parallel to go public via merger with Scooter Braun-backed blank-check company

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Cannabis company Parallel to go public via merger with Scooter Braun-backed blank-check company:

Multi-state cannabis operator Parallel said Monday it is going public via a merger with special purpose acquisition corporation Ceres Acquisition Corp.

in a deal with an enterprise value of $1.884 billion. Cs, or blank-check companies, raise money in an initial public offering and then have two years to acquire a business or businesses. The deal is expected to close in the summer.

 

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