AYR Wellness Inc. AYRWF AYR has completed the acquisition of Tahoe Hydroponics Company, LLC.
On July 19, 2021, Ayr announced a definitive purchase agreement to acquire Tahoe Hydro and on February 7, 2022, Ayr and Tahoe Hydro entered into a preliminary management services agreement. With this degree, Ayr acquired 100% of Tahoe Hydro’s membership interests. At closing, the Company paid $1.5 million in cash and issued 232,795 exchangeable shares, each exchangeable for one public share. The closure of NV Green, Inc., which makes concentrates and is the other part of the acquisition, has not yet closed. Upon the anticipated closing of NV Green, AYR expects to issue an additional 58,196 exchangeable shares and no further cash payment.
“I am thrilled that we have completed our acquisition of Tahoe Hydro,” he said David Goubert, President and CEO of Ayr. “Although the teams and operations have been integrated since February 2022, we are excited to make the combination official. The completion of this transaction underscores our commitment to building depth in our core markets such as Nevada, where we have a leading market share along with a differentiated footprint.”
Photo: Benzinga edit with photos by jarmoluk and lindsayfox on Pixabay
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