Cannabis seed-to-sale technology provider MJ Freeway and MTech Acquisition agreed to merge their two businesses with plans to launch a new holding company that would be listed on the Nasdaq.
Under the deal, Denver-based MJ Freeway and MTech (NASDAQ: MTEC) will become subsidiaries of a newly created company named Pubco.
The merger, which is subject approval by equity holders of each company, is slated to close in early 2019, the firms announced Thursday.
The deal’s price tag wasn’t disclosed.
In a news release, Florida-based MTech described itself as the first U.S.-listed special purpose acquisition company (SPAC) focused on acquiring marijuana ancillary…