Greenrose Acquisition to Acquire Four Cannabis Companies for $210M

Cannabis

Greenrose Acquisition today announced it has entered definitive agreements to acquire four cannabis companies: Shango Holdings, Futureworks, (d/b/a The Health Center), Theraplant and True Harvest.

Terms call for Greenrose to acquire the four companies for approximately $210 million, consisting of approximately $170 million in cash, $15 million in stock and $25 million in debt. In addition, a maximum of $110 million in earnouts could be paid out through 2024, consisting of $75 million in stock and $35 million in debt.

Greenrose intends to raise $150 million in equity and debt securities in a private offering.

Prior to closing, the combined companies will be renamed The Greenrose Holding Company, which is expected to transition its listing from the Nasdaq to the OTCQX Best Market. Additionally, Greenrose intends to list on the NEO exchange after the close of the transaction. Read more.

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