Greenrose Holding Co Inc.: M&A transaction — Greenrose completes foreclosure of subsidiaries; CFO terminated; intends to join foreclosure

Greenrose Holding Co Inc.

On July 21, 2023, Theraplant and True Harvest transferred assets to DXR entities via strict foreclosure, satisfying debt.
Judicial foreclosure satisfied $4.1M of obligations; $5M remains outstanding to Holdings.
CFO Mr. Wang terminated effective July 21, 2023, without cause.
Holdings notified court of intent to join the Foreclosure Agreement to gain liability assumption.
Mutual release, tax funding, and transition services agreements signed with lenders.

item 2.01 item 5.02 item 8.01 item 9.01

Executive movements

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Departed

Mr. Wang

Chief Financial Officer

Greenrose Holding Co Inc.

Effective: 2022-07-21
Filed: July 24, 2023, 7:59 PM ET

In connection with the closing of the Foreclosure Agreement, on July 21, 2022, Mr. Wang was terminated as the Company's Chief Financial Officer, effective immediately, without cause.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Mr. Wang was terminated as Chief Financial Officer at Greenrose Holding Co Inc..

Action: terminated
Role: Chief Financial Officer

Exact text from the filing

In connection with the closing of the Foreclosure Agreement, on July 21, 2022, Mr. Wang was terminated as the Company's Chief Financial Officer, effective immediately, without cause.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Greenrose Holding Co Inc. completed a disposition involving NewCo (DXR Parent/DXR Holdco) (closed 2023-07-21).

Action: disposition
Counterparty: NewCo (DXR Parent/DXR Holdco)
Closing: 2023-07-21

Exact text from the filing

On July 21, 2023, the parties completed the disposition of assets and closed the foreclosure transaction as to Theraplant and TH concurrently following satisfaction or waiver of the applicable closing conditions for each applicable closing, including receipt of the requisite regulatory approvals. At the applicable closing, each of Theraplant and TH assigned, transferred and conveyed its respective Transferred Collateral to NewCo in exchange for satisfaction in full and discharge of the applicable obligations and assumption by NewCo of certain liabilities.

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9 m&a transactions filed in the last 30 days. Browse all m&a transactions →

Source: SEC EDGAR

accession 0001213900-23-058964

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