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MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  Stem Holdings, Inc.    STMH

STEM HOLDINGS, INC.

(STMH)
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STEM HOLDINGS, INC. : Entry into a Material Definitive Agreement (form 8-K)

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09/24/2020 | 05:40pm EDT

Item 1.01 Entry into a Material Definitive Agreement

On August 12, 2019, the Company agreed to acquire the business operations of Opco Holdings and its subsidiaries, and Oregon Acquisitions, Gated Oregon and Kind Care (the "Operating Companies"), contingent upon the Company's receipt of a legal opinion that the operation of the Opco marijuana businesses in the State of Oregon by the Company will not violate any federal or state laws.

Pursuant to the terms of a merger agreement between the parties, Stem agreed to acquire Opco Holdings and its subsidiaries, and Oregon Acquisitions, Gated Oregon and Kind Care for a deemed aggregate purchase price of 12.5 million shares of the Company's common stock. It was further agreed that the purchase price be satisfied by releasing these shares, which have been held in escrow during the pendency of the transaction, to the beneficial owners of above-mentioned entities. As previously disclosed, certain beneficial owners of these entities are also directors, officers and/or shareholders of Stem. On September 4, 2020, the Company received all of the necessary regulatory approvals from government entities of the State of Oregon and, pursuant to the Merger Agreements, the transaction was consummated on that date.

© Edgar Online, source Glimpses


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Financials (USD)
Sales 2019 2,10 M - -
Net income 2019 -28,6 M - -
Net Debt 2019 2,64 M - -
P/E ratio 2019 -0,79x
Yield 2019 -
Capitalization 32,7 M 32,7 M -
EV / Sales 2018 20,6x
EV / Sales 2019 20,3x
Nbr of Employees 50
Free-Float 61,4%
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Managers
NameTitle
Adam Berk Chairman, President & Chief Executive Officer
Ellen B. Deutsch Chief Operating Officer & Executive Vice President
Steve Hubbard Chief Financial Officer, Secretary & Director
Garrett M. Bender Independent Director
Lindy Snider Independent Director