Curaleaf Holdings, Inc. (CNSX:CURA) entered into a definitive agreement to acquire Tryke Companies, LLC for approximately $300 million on November 8, 2021. Under the terms of the agreement, Curaleaf will pay $40 million in cash at closing, with a remaining $75 million in cash to be paid in equal installments on the first, second and third anniversaries of the closing. The stock portion of the transaction, which consists of 17 million subordinate voting shares of Curaleaf, will also be paid in three equal installments on the first, second and third anniversaries of the closing. An incremental earnout of up to 1 million shares of Curaleaf may be paid in 2023 based on the business exceeding certain EBITDA targets for the year 2022. The transaction is subject to customary approvals and conditions, including the receipt of approval from the applicable state regulators, including the Nevada Cannabis Compliance Board. The transaction is expected to close in the second half of 2022. Curaleaf expects the acquisition will be immediately accretive to its EBITDA margins and free cash flow generation. Honigman LLP and Stikeman Elliott LLP acted as legal advisors to Curaleaf. Wilmer Cutler Pickering Hale and Dorr LLP and McCarthy Tétrault LLP acted as legal advisors and Canaccord Genuity acted as financial advisor to Tryke.

Curaleaf Holdings, Inc. (CSE: CURA) completed the acquisition of Tryke Companies, LLC for approximately $180 million on October 4, 2022.