Ballard Spahr Advises PA Natural Medicine in Sale of PA Cannabis Dispensaries for $80 Million Plus Earn-Out

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Summary

With the transaction, Ayr acquires three PA Natural Medicine dispensaries, located in the central Pennsylvania towns of Bloomsburg, State College, and Selinsgrove. The firm’s Cannabis practice attorneys advise growers, dispensaries, technology companies, researchers, and investors on regulatory, licensing, corporate, financing, intellectual property, and other legal and business issues. Ayr purchased 100 percent of the membership interests of PA Natural Medicine. Here’s the firm’s press release Attorneys from Ballard Spahr served as counsel to PA Natural Medicine LLC in the company’s acquisition by Ayr Wellness, a Florida-based cannabis multistate operator, for $80 million plus an earn-out. The terms of the transaction include upfront consideration of $80 million, made up of $20 million in stock, $25 million in seller notes, and $35 million in cash.

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Here’s the firm’s press release

Attorneys from Ballard Spahr served as counsel to PA Natural Medicine LLC in the company’s acquisition by Ayr Wellness, a Florida-based cannabis multistate operator, for $80 million plus an earn-out.

Ayr Wellness announced the transaction’s closing this week.

Ayr purchased 100 percent of the membership interests of PA Natural Medicine. The terms of the transaction include upfront consideration...

Read the full article @ Cannabis Law Report