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Announced

Ascend Wellness to acquire New York operations from MedMen for $88m.

Financials

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Transaction Value£71m
Consideration TypeLoan Notes, Cash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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United States

Acquisition

Private

cannabis

Pending

Friendly

Single Bidder

Domestic

Drug Retailers

Majority

Synopsis

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Ascend Wellness, a cannabis operator that owns and operates cultivation facilities, agreed to acquire New York operations from MedMen, a cannabis company for $88m. “This resolution is a clear win for MedMen shareholders, as the company will receive $15m in additional value. This resolution enables MedMen to move forward with plans to significantly restructure its balance sheet, reduce debt, and focus on its core markets," Michael Serruya, MedMen Chairman.

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