Ascend Wellness
Ahead of AAWH 1Q22 earnings (May 11th at 5 pm ET), MedMen Enterprises announced a definitive agreement with Ascend Wellness Holdings to allow the sale of MedMen's New York operations to close for increased consideration. The transaction resolves the litigation between MedMen and AWH concerning the transaction and delivers $15M in additional value to MedMen shareholders. Under the settlement agreement terms, AWH will pay MedMen $88M: $73M as an assumption of debt and $15M in cash. Other terms of the transaction will be as initially announced in February 2021. The transaction is expected to close within thirty days.
Missouri is closer
A campaign working to legalize adult-use marijuana in Missouri has submitted almost 400,000 voter signatures to the state in support of a ballot measure for this coming November. Legal Missouri, a campaign in support of legalizing recreational marijuana use in the state, has passed the required number of signatures needed to put the initiative on the ballot. The campaign announced it had collected 385,000 signatures on a petition ahead of Sunday’s deadline. Only 170,000 were required to push for a measure on the November election ballot. Activists sent petitions with the signatures to the Missouri Secretary of State’s Office, which can review and certify the voter signatures to put a measure on an upcoming ballot. Fox2now
