Greenrose Acquisition said it notified Continental Stock Transfer & Trust that it is extending its merger deadline from today until Sept 13.
To exercise the extension, the SPAC’s sponsor deposited $569,250 into the trust account. Greenrose has the right to exercise to extend the time available to consummate its business combinations for up to two additional months.
The company will have up to $276 million going into its acquisition of four cannabis companies. Terms call for Greenrose to acquire the companies for approximately $210 million, consisting of $170 million in cash, $15 million in stock and $25 million in debt. Read more.
