Miami-based multistate marijuana operator Ayr Wellness is divesting its recently acquired Arizona assets and entering the Ohio market.
According to a news release, Ayr agreed to sell the Arizona assets it acquired in 2021 back to the original owner for $20 million in cash plus additional proceeds from net working capital within six months of the transaction closing.
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In 2021, Ayr said it was buying the assets for $10 million in cash, $41 million in stock and $30 million in seller notes.
According to The Deep Dive, filings show the company agreed to pay $9.7 million in cash, $25.8 million in debt payable, $125.2 million in shares.
It’s not clear if another $117.6 million in contingent consideration was paid out.
The sale to AZ Goat includes:
Three Oasis-branded stores. A cultivation facility in Phoenix. A cultivation and processing facility in Chandler. An interest in
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