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Greenrose Holding Co Inc.: M&A transaction — Greenrose Holdings completes asset foreclosure, appoints new CEO, will cease SEC reporting
Greenrose Holding Co Inc.
On July 27, 2023, Greenrose transferred all assets to NewCo (DXR Parent/HoldCo) in foreclosure, discharging obligations and assuming $5M in liabilities.
CEO Thomas Bossidy resigned; Nicole Conboy, former CAO, appointed CEO effective July 28, 2023.
Greenrose will wind down operations and will no longer file current or periodic reports with the SEC.
NewCo assumed certain liabilities including accounts payable, contracts, employee liabilities, and tax funding obligations.
Greenrose Holding Co Inc. completed a disposition involving NewCo for satisfaction in full and discharge of the applicable obligations (closed 2023-07-27).
Action
disposition
Counterparty
NewCo
Consideration
satisfaction in full and discharge of the applicable obligations
Closing
2023-07-27
Exact text from the filing
At the Holdings Closing, Holdings assigned, transferred and conveyed its Transferred Collateral to NewCo in exchange for satisfaction in full and discharge of the applicable obligations and assumption by NewCo of certain liabilities, including $5,000,000 of the obligations which remained outstanding and were allocated to Holdings as of the Theraplant and True Harvest closings which took place on July 21, 2023.
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