MJ BIZ write……..Curaleaf, which initially announced the proposed deal in May for an estimated price of almost $1 billion, will now issue 55 million of its shares instead of the original 95.6 million shares in the all-stock transaction.
That is a 42.5% drop in the number of shares definitively offered.
The balance of shares will be payable to Cura Partners if Curaleaf achieves a minimum of $130 million in Cura’s Select brand sales in 2020 and a maximum of $250 million.
In addition, equity holders in Oregon-based Cura Partners will also be eligible to receive an earnout of up to $200 million from the issuance of additional Curaleaf shares if the newly merged company exceeds $300 million in Select sales next year.
Full Report
Curaleaf amends Cura Partners marijuana deal; antitrust hurdle cleared
