MJBiz has been acquired by Emerald X (NASDAQ: EEX) for $120 million in cash plus potential earnouts.
The transaction reflects the ongoing mainstream acceptance of the once-counterculture cannabis plant – and the multibillion-dollar industry that has blossomed around it over the past quarter century.
The deal includes a variable earnout based on financial performance. In 2021, MJBiz’s revenues were approximately $27 million, which were near pre-pandemic levels. The third-quarter figure was more than half of 2020’s total of $127.4 million. By comparison, 2019 revenue was $360.9 million.
Like other major event organizers, both privately held MJBiz and publicly held Emerald suffered financial fallout from the emergence of the coronavirus pandemic in early 2020. The pandemic forced the cancellation of hundreds of conferences and trade shows around the globe.
Show Notes:
MJBiz acquired by Emerald X for $120 million-plus
https://mjbizdaily.com/mjbiz-acquired-by-emerald-x-for-120-million-plus/
George Jage, CEO at Jage Media, Inc. | MJ Unpacked | MJ Brand Insights
https://www.linkedin.com/in/georgejage/
Host:
Josh Kincaid, Capital Markets Analyst & host of your cannabis business podcast.
https://www.linkedin.com/in/joshkincaid/
Episode 868 The #TalkingHedge…
Your Cannabis Business Podcast.
Covering cannabis products, reviews, business news, interviews, investments, events, and more.
https://www.theTalkingHedgepodcast.com
Music Info:
Song: Music Keep On Beat | Artist: Milochromatic Beats
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Song: Dark Trap Beats Hard Rap Instrumental | Gang | 2018 Artist: LuxrayBeats
Keywords:
Hemp News, Weed News, Cannabis News, Marijuana News, Cannabis Business, Marijuana Business, Cannabis Industry News, Marijuana Industry News, Weed News 420, Talking Hedge Podcast, Cannabis Podcast, Marijuana Podcast, Business Podcast, CBD podcast, THC podcast, Cannabis Pitch Deck, Marijuana Pitch Deck, Marijuana Investment Deck, Cannabis Investment Deck, Cannabis Compliance, Cannabis Data, Cannabis Banking, Cannabis Investment, Pot Stocks, Cannabis Stocks, Weed Stocks, Marijuana Stocks, Cannabis Data, Marijuana Data, Cannabis Analytics, Marijuana Analytics, Cannabis Sales Data, Marijuana Sales Data
Josh is not an investment adviser. The Talking Hedge is long gold and silver. Listeners should always speak to their personal financial advisers. This is only entertainment.
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