MJ Biz Con sold for $120MM

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.

Episode 868 The #TalkingHedge talks about MJ Biz Con with George Jage, CEO at Jage Media, Inc. | MJ Unpacked | MJ Brand Insights ...

https://youtu.be/vJypPilhzo4