Privately Held Pot Co. Raises $55M In Deal Led By 2 Firms
Law360 (May 11, 2021, 8:14 PM EDT) -- Privately held multistate cannabis company Holistic Industries raised $55 million through a convertible note in a transaction guided by Feuerstein Kulick LLP and Stroock & Stroock & Lavan LLP, it said Tuesday.
The oversubscribed funding round was led by hedge fund Harbert Management Corp.'s Stoneview Fund and will be used to finance Holistic's expansion into Missouri, West Virginia and other states, plus some planned mergers and acquisitions, Holistic said in the announcement.
The Washington, D.C.-based company declined to make the terms of the note public.
"Holistic Industries has a history of being good stewards of capital, investing in licenses and operations...
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