Curaleaf Nixes Cash In Amended Grassroots Purchase Deal

By Sam Reisman (June 22, 2020, 5:50 PM EDT) -- Marijuana cultivator and dispensary chain Curaleaf announced on Monday that it had revised its agreement with Grassroots from a cash-and-stock sale to an all-stock deal, nearly one year after the blockbuster cannabis transaction was first announced.

Under the amended terms of the agreement, publicly-traded multistate operator Curaleaf Holdings Inc. will no longer pay GR Holdings Inc. $75 million in cash, and the dollar value of Curaleaf shares in the deal will be raised to $90.1 million, up from $40 million. Furthermore, the amended deal will see Curaleaf offer up approximately 118.9 million subordinate voting shares, up from 102.8 million shares in...

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