Mergers & Acquisitions ·
Vireo Growth Inc. entered into a definitive Agreement and Plan of Merger with Planet 13 Holdings Inc., under which…
VREOFVireo Growth Inc.
Vireo Growth Inc. entered into a definitive Agreement and Plan of Merger with Planet 13 Holdings Inc., under which Vireo will acquire all outstanding equity interests of Planet 13 through a merger with its subsidiary, Supernova Merger Sub Inc. The transaction is valued at an exchange ratio of 0.015383618 Parent Shares for each share of Planet 13 Common Stock. Both boards unanimously approved the deal and recommended shareholder approval. Closing conditions include stockholder votes and regulatory approvals, with a termination date of July 26, 2027. A $1.8 million termination fee applies if the merger is terminated under specific circumstances. Voting agreements were signed by key stakeholders Larry Scheffler, Robert Groesbeck, David Loop, and Christopher Wren, who also agreed to lock-up provisions releasing shares over 18 months. Vireo Growth Inc. operates in the cannabis industry, focusing on mergers, acquisitions, and investments in cannabis-related businesses.