Chewing gum heir William “Beau” Wrigley Jr., the CEO of Atlanta-based Parallel, struck a mammoth deal with an entertainment mogul to take the cannabis multistate operator public through a transaction that values the company at $1.9 billion.
New Jersey Gov. Phil Murphy on Monday finally signed a law to implement a projected $1 billion recreational marijuana market, hours after lawmakers agreed on a “clean-up measure” that had held up the process for months.
Social equity programs are a relatively new phenomenon in the U.S. cannabis industry, with the aim of getting more minorities and those with marijuana-related convictions involved in the legal sector.
When Jessica Billingsley announced in October 2018 that she was taking Denver-based cannabis technology company MJ Freeway public by merging it with a so-called “blank-check” company, she was on the vanguard of an increasingly popular way for privately held companies to begin trading on public stock exchanges.
