Leafly is expected to go public thanks to a planned merger with blank-check company Merida Merger Corp I. Merida Capital Holdings, owner of the blank-check company, has been one of Leafly’s biggest backers. Easing cannabis regulations, the destigmatization of marijuana, and increased usage have contributed to Leafly’s increased popularity and desirability. The deal would value the newly combined company at more than $530 million.

Leafly was founded in 2010 and was owned by cannabis-focused private equity group Privateer Holdings between 2012 and 2019. Leafly’s website provides resources for cannabis consumers to find cannabis stores, runs a pickup and delivery service, and reviews a variety of cannabis products like rolling cones and glass pipes. Sources have speculated that Leafly will use the proceeds from the deal to invest more into its east coast business.

Leafly’s team will continue to be led by Chief Executive Yoko Miyashita, but Merida will take at least one seat on the combined company’s board, while

While sources caution that talks could still fall apart, the merger is expected to be finalized by mid-August.