CGROU = 1C + 1/2W


Prospectus 5/1/2020

May 5, 2020 –  closed 15,000,000 units at $10.00 per unit. The offering was priced at $10.00 per unit, resulting in gross proceeds of $150,000,000.

Trust  -  $150.0 million or $172.5 million if the underwriter’s over-allotment option is exercised in full ($10.00 per unit in either case)

1 W + 11.50 Pipe protection $9.20 below. Call 18 can call cashless.

18 months

intend to focus our search for target businesses on companies operating in the Federally permissible cannabinoid industry which are compliant with all applicable laws and regulations within the jurisdictions in which they are located or operate. 

$11.50 per share, subject to adjustment as described herein. In addition, if (x) we issue additional shares of Class A common stock or equity-linked securities for capital raising purposes in connection with the closing of our initial business combination at an issue price or effective issue price of less than $9.20 per share of Class A common stock (with such issue price or effective issue price to be determined in good faith by our board of directors and, in the case of any such issuance to our sponsor or its affiliates, without taking into account any founder shares or private placement shares held by our sponsor or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of our initial business combination on the date of the consummation of our initial business combination (net of redemptions), and (z) the volume weighted average trading price of our common stock

Bruce Linton, our co-founder, Chairman and Chief Executive Officer, has executed numerous accretive M&A transactions in the cannabis industry. Mr. Linton was formerly the Chief Executive Officer of Canopy Growth Corporation, a leading diversified cannabis, hemp and cannabis device company. Geoffrey Whaling, our co-founder and President, serves as Chairman of the National Hemp Association, the nation’s largest hemp advocacy group and has worked with more than 18 states, various stakeholder groups and members of the US government to pass federal legislation legalizing hemp as a commodity crop and removing it from the Controlled Substance Act. Tim Saunders, our Chief Financial Officer, has approximately 35 years of international experience with public and private companies, including serving as Chief Financial Officer of Canopy Growth Corporation. Wilson Kello, our Chief Marketing Officer, has a 17-year history of creating and sustaining dynamic brands and has served as a Creative Consultant for a variety of cannabis companies including Canopy Growth Corporation, Hail Mary LLC and Quick Hemp LLC. Andrew Townsend, a member of our Board of Directors, has extensive capital markets experience, having founded and managed multiple private partnerships, focusing on specialty financing and growth equity, most recently serving as founder and Managing Member of Ocelot Capital Management, LLC, a private investment firm.