secwatch.observer — SEC 8-K summary
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Issuer:     Planet 13 Holdings Inc. (PLNH)
CIK:        0001813452
Form:       8-K
Filed at:   2023-08-29T23:59:59+00:00
Accession:  0001437749-23-024785
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Planet 13 to acquire VidaCann for ~$48.9M in stock, cash, and notes
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- Total consideration: 78.46M shares (~$39.8M), $4M cash, $5M promissory notes; total ~$48.9M.
- Post-closing, former VidaCann equityholders and advisor will own ~26.09% of Planet 13 on a fully diluted basis.
- VidaCann operates 26 dispensaries in Florida (9th largest network) with a cultivation and processing facility.
- Acquisition expected to close in Q1 2024, subject to regulatory approvals and sale of Planet 13's existing Florida license.
- Sellers granted right to nominate one additional director to Planet 13's board; shares subject to lock-up (1/3 released every 6 months).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1813452/000143774923024785/0001437749-23-024785-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1813452/000143774923024785/plnhf20230807_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-024785

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer