and enhance its mission to pioneer well-being and improve quality of life through cannabinoids
Beau Wrigley remaining as Chairman and CEO and Ceres Group Holdings Scooter Braun to serve as a Special Advisor
Transaction values Parallel at an implied enterprise value of US$1.884 billion
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combined public company expected to have US$430 million cash balance at closing
Ceres Acquisition Corp. s CEO Joe Crouthers to become a director of the combined public company, with an additional slate of 4 independent directors with significant health and life sciences experience
Joint conference call to discuss the proposed transaction today at 9:00 a.m. ET
ATLANTA and TORONTO, Feb. 22, 2021 /PRNewswire/ Parallel (the Company ), one of the largest privately-held multi-state cannabis operators in the United States (U.S.) and Ceres Acquisition Corp. ( Ceres ) (NEO: CERE.U, CERE.WT;OTCQX: CERAF), a special purpose acquisition corporation (SPAC), today announced they have entered into a def