Ascend Wellness Holdings, Inc. (CNSX:AAWH.U) completed the acquisition of Maryland dispensaries and related real property of Devi Holdings, Inc. for $20.2 million.
April 26, 2023
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Ascend Wellness Holdings, Inc. (CNSX:AAWH.U) entered into a definitive agreement to acquire Maryland dispensaries and related real property from Devi Holdings, Inc. for $19 million on January 25, 2023. Upon closing of the Agreement, AWH will acquire 100% of the membership interests of Devi's Maryland dispensaries and related real property holding companies for $19 million, $12 million of which will be paid in cash and $7 million, or 5.19 million shares, of Class A Common Stock. The close of the transaction is pending the satisfaction or waiver of customary closing conditions and the receipt of approval for the transfer of the licenses from Maryland regulatory authorities. Seaport Global Securities LLC is acting as financial advisor to Ascend Wellness Holdings, Inc.
Ascend Wellness Holdings, Inc. (CNSX:AAWH.U) completed the acquisition of Maryland dispensaries and related real property of Devi Holdings, Inc. for $20.2 million on April 27, 2023. The acquisition includes four licensed dispensaries in Aberdeen, Crofton, Ellicott City, and Laurel under the names Nature's Medicines and True Wellness from Devi Holdings, Inc. Ascend Wellness Holdings also acquired $0.143 million of cash and assumed $1.5 million of liabilities.
Ascend Wellness Holdings, Inc. is a vertically integrated multi-state cannabis operator. The Company is focused on operating in adult-use or near-term adult-use states in primarily limited license markets. It is engaged in cultivation, manufacturing, and distribution of cannabis consumer packaged goods, which are sold through Company-owned retail stores and to third-party licensed retail cannabis stores. The Company has licenses and assets in Illinois, Massachusetts, Maryland, Michigan, New Jersey, Ohio, and Pennsylvania. It produces and distributes its in-house Common Goods, Simply Herb, Ozone, Ozone Reserve, Royale, and Tunnel Vision branded products. The Company operates cultivation facilities in six states with approximately 245,000 square feet of total canopy. Common Goods is a no-frills brand that offers high value cannabis for everyday consumption. The brand comes in flower and pre-rolls. Ozone Reserve comes in exotic flower, refined concentrates, purified oils, and vapes.
Ascend Wellness Holdings, Inc. (CNSX: AAWH.U) completed the acquisition of Maryland dispensaries and related real property of Devi Holdings, Inc. for $20.2 million.
ASCEND WELLNESS HOLDINGS, INC. 
