Glass House Goes Public in Deal

Glass House Group, California’s largest cannabis producer, goes public in blank-check deal worth more than $1 billion. Glass House's merger with Johnathon Sandelman’s Mercer Park Brand Acquisition Corp makes it the latest cannabis producer on Canada’s NEO exchange. This stock exchange is a favorite destination for companies looking to raise funds for meeting the demand for cannabis as more and more of the U.S. legalizes it.

Glass House acquired licenses of cannabis retailer Element 7 and bought a 5.5 million-square- foot greenhouse, which will be converted to grow cannabis. As a result, the Santa Barbara-based business will cement its status as California's biggest producer and retailer. They plan to have 21 retail stores in the first quarter of next year. Since California is the...

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