- Ayr Wellness ( OTCQX:AYRWF ) has announced the termination of the Co’s previously announced proposed acquisition of the equity interests of Gentle Ventures, Dispensary 33 and certain of its affiliates that collectively own and operate two licensed retail dispensaries in Chicago, Illinois.
- Following the termination, Ayr will no longer be required to pay the previously announced purchase consideration of $55M upfront, including $12M of cash, $3M of sellers notes and $40M of stock.
- “We are focused on optimizing our business and will prioritize our efforts in markets where we can build meaningful depth and drive strong revenue and cash flow in the near term." said David Goubert, President at Ayr.
For further details see:
Ayr Wellness mutually terminates proposed acquisition of Dispensary 33