Planet 13 Holdings Inc. (PLNH): M&A transaction — Planet 13 closes sale of Florida subsidiary for $9M cash; sets stage for VidaCann acquisition

Planet 13 Holdings Inc.

Sold 100% of Planet 13 Florida equity to SGW FL Enterprises for US$9,000,000 on May 6, 2024.
Planet 13 Florida held a medical marijuana treatment center license from Florida Dept. of Health.
Florida sale is a condition to the pending VidaCann acquisition; closing expected in May 2024.
Approval from Florida Office of Medical Marijuana Use received April 26, 2024.

item 2.01 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 1.0

Planet 13 Holdings Inc. completed a disposition involving SGW FL Enterprises, LLC for US$9,000,000 (closed 2024-05-06).

Action: disposition
Counterparty: SGW FL Enterprises, LLC
Consideration: US$9,000,000
Closing: 2024-05-06

Exact text from the filing

On May 6, 2024, Planet 13 Holdings Inc. (the “Company”) completed its previously announced sale of the issued and outstanding shares of common stock (the “Florida Shares”) of its subsidiary, Planet 13 Florida Inc. (the “Florida Sale”) pursuant to the terms and conditions in the Stock Purchase Agreement dated January 22, 2024 (the “Florida Purchase Agreement”) with SGW FL Enterprises, LLC (the “Buyer”). Pursuant to the Florida Purchase Agreement, the Company sold the Florida Shares to the Buyer at the closing of the Florida Sale for a cash payment of US$9,000,000.

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Planet 13 Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001437749-24-014930

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