Cannabis-focused Mercer Park SPAC ups IPO target to $350 mln

Mercer Park Brand Acquisition Corp has filed a final prospectus with Canadian regulatory authorities outside of Québec for an initial public offering (IPO). The IPO is for Class A restricted voting units of US$10 per unit, for total proceeds of US$350 million, not including the greenshoe option, up from a prior target of US$250 million. Mercer Park Brand, a special purpose acquisition corporation (SPAC) sponsored by U.S. family office Mercer Park, intends to list on the Neo Exchange. For a qualifying transaction, the SPAC will target one or more acquisitions involving branded product businesses in cannabis and cannabis-adjacent industries.

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