Tilray Beverage, LLC entered into a securities and asset purchase agreement to acquire Eight beer and beverage brands and related assets of Anheuser-Busch Companies, LLC from Craft USA Holdings, LLC, Anheuser-Busch Companies, LLC, Anheuser-Busch, LLC and Craft Brew Alliance, Inc. for $85 million on August 7, 2023. The transaction is subject to working capital adjustments. Under a Credit agreement, Four Twenty Corporation a subsidiary of Tilray Brands, Inc. will borrow $20,000,000 of Delayed Draw Term Loans and deliver such proceeds directly to Anheuser-Busch Companies. The Administrative Agent herein is Bank of America, N.A. The termination fee for both the buyer and seller is $4 million. The transaction is subject to regulatory approvals. The transaction is expected to close by the end of September, 2023. Spencer Fane LLP acted as legal advisor to Craft USA Holdings, LLC, Anheuser-Busch Companies, LLC, Anheuser-Busch, LLC and Craft Brew Alliance, Inc. and Greenberg Traurig, LLP acted as legal advisor to Tilray Brands, Inc.

Tilray Beverage, LLC completed the acquisition of Eight beer and beverage brands and related assets of Anheuser-Busch Companies, LLC from Craft USA Holdings, LLC, Anheuser-Busch Companies, LLC, Anheuser-Busch, LLC and Craft Brew Alliance, Inc. for $83.4 million on September 29, 2023.