The Joy of Pot SPACs

Special Purpose Acquisition Companies, or SPACs, are having a moment in the cannabis industry. Last month Subversive Capital used the investment structure to launch a major California operator following several more big deals this year. 

WeedWeek recently talked to Joe Crouthers, a Goldman Sachs alum who's now CEO of Ceres Acquisition Corp., to discuss why pot SPACs make sense right now. He offered a primer on how they work, and discussed his plans for the SPAC Ceres is sponsoring.

This interview has been edited . . .