Cresco Labs, Origin House Trim Pot Co. Merger To $370M
By Jack Queen (November 14, 2019, 10:59 PM EST) -- Cannabis companies Cresco Labs and Origin House have trimmed the value of their tie-up to roughly $370 million and pushed the merger's close to next year as once high-flying cannabis stocks have fallen back to earth, prompting deal restructurings across the sector.
The revisions announced Wednesday shaved the amount of Cresco shares payable to Origin House upon the deal's closing and include a $30 million equity infusion that the companies say will shore up the balance sheet of the combined companies, which specialize in cannabis retail and distribution in the U.S. and Canada.
Cresco announced the all-stock acquisition of Origin House...
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