NEWS BRIEF

Marijuana online firm Leafly seeks to raise up to $30M in securities offering

Leafly, an online marijuana guide and cannabis news website, is planning to raise up to $30 million in a securities offering.

The offering includes securities such as debt, convertible debt and options to acquire securities, according to the Wednesday filing with the U.S. Securities and Exchange Commission.

Seattle-based Leafly had already sold nearly $22.9 million of the securities to 33 investors as of Wednesday, the regulatory filing shows.

The filing does not specify the purpose of the $30 million raise.

However, a Leafly spokesperson told MJBizDaily that the company would use the money to “continue to stay focused on building out our consumer marketplace” with initiatives that include “scaling in local markets and ensuring sustained brand dominance on the East Coast as legalization trends accelerate market growth.”

Leafly laid off staff in January and in March 2020 and closed its Germany operations in February 2020.

The company also launched a cannabis delivery platform in April 2020.

Leafly was spun off from private equity firm Privateer Holdings in 2019.

– Solomon Israel

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