4 Firms Guide Cannabis Co.'s $1.9B Go-Public Deal

By Sarah Jarvis (February 22, 2021, 6:48 PM EST) -- Cannabis operator Parallel announced Monday that it plans to go public through a combination with a blank-check company affiliated with record executive Scooter Braun, in a deal steered by Greenberg Traurig, Aird & Berlis, Manatt Phelps and Stikeman Elliott.

Parallel, which says it is one of the largest privately held multistate cannabis operators in the U.S., announced that it entered into a definitive business agreement with special purpose acquisition company Ceres Acquisition Corp. The companies said Monday that the deal is valued at more than $1.88 billion.

William "Beau" Wrigley Jr., chairman and CEO of Parallel and former CEO of the...

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