Aaron Sonshine comments in Insider's story, "7 top cannabis lawyers dish on the deals, disputes, and policy decisions shaping the $104 billion industry's future."
Aaron anticipates more regulatory clarity around the status of cannabis in the U.S., which could bring in new investors. "Building on the trend that we saw toward the end of 2020 into 2021, I think we'll continue to see greater access to capital among the U.S. players. There's a significant pool of capital that we see entering the space for the first time following Biden's election and the Georgia Senate races."
Aaron told Insider that although the Special Purpose Acquisition Company (SPAC) market has softened over the past few months, he expects more deals in that area in the coming months. The participants will be a combination of previous SPAC leaders raising second or third SPACs and new entrants, he said. The competition over just a handful of SPAC acquisition targets will be intense.
"You need to be innovative," Sonshine said. "You need to be distinctive and have a clear message on why investors should place their trust in you, right?"
That trend, Aaron said, coupled with the flurry of M&A deals he expects will happen over the next year, will give smaller and midsize companies plenty of exit opportunities.
Subscribers can read the full story—written by Jeremy Berke, Jack Newsham and Yeji Jesse Lee—on the Insider website.
