Curaleaf Signs Amended Agreement for the Acquisition of Grassroots
- Positions Curaleaf as the World’s Largest Cannabis Company
- Brings Together the Largest Public and Largest Private Multi-State Operators in the U.S.
WAKEFIELD, Mass., June 22, 2020 /PRNewswire/ — Curaleaf Holdings, Inc.
(CSE: CURA) (OTCQX: CURLF) (“Curaleaf” or the “Company”), a leading
vertically integrated cannabis operator in the United States, today
announced that it has signed an amended agreement for its acquisition of
GR Companies, Inc. (“Grassroots”), the largest private vertically-integrated multi-state operator in the United States. On July 17, 2019, Curaleaf announced the signing of a definitive agreement to acquire Grassroots. Under the new mutually agreed and amended terms of the agreement, the principal component of the transaction consideration remains the same at approximately 102.8 million subordinate voting shares (“SVS”) of Curaleaf.
What had initially been a $75 million cash component of the consideration has been eliminated, while the component of additional Curaleaf SVS to be priced at the 10-day volume-weighted average price prior to closing of the transaction has been increased from $40 million to approximately $90.1 million, subject to final adjustment