---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-016374"
form_type: "8-K"
ticker: "PLNH"
cik: "0001813452"
company_name: "Planet 13 Holdings Inc."
filed_at: "2024-05-14T23:59:59+00:00"
generated_at: "2026-06-02T01:08:33.941951+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Planet 13 closes acquisition of VidaCann for ~$63.4M; adds 26 Florida dispensaries

## Summary
- Consideration: 81.87M shares, ~$4M cash, $5M notes; assumed $3M bank debt and $1.5M related-party notes.
- Total consideration valued at ~$63.4M based on stock price of US$0.6647 on May 9, 2024.
- VidaCann operates 26 Florida stores; Planet 13 plans indoor cultivation and brand integration to boost per-store economics.
- David Loop, former VidaCann CEO, nominated to Planet 13 board effective after 2024 annual meeting.
- Lock-up on 29,995,124 shares from certain holders released in thirds every six months.

## SEC filing metadata
- accession: 0001437749-24-016374
- form_type: 8-K
- ticker: PLNH
- cik: 0001813452
- company_name: Planet 13 Holdings Inc.
- filed_at: 2024-05-14T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.01, 5.02, 2.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1813452/000143774924016374/0001437749-24-016374-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1813452/000143774924016374/plnh20240506c_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-016374
- JSON: https://secwatch.observer/filing/0001437749-24-016374.json
- Plain text: https://secwatch.observer/filing/0001437749-24-016374.txt

## Key facts
- Debt Financings
  Planet 13 Holdings Inc. incurred loan of US$5 million in aggregate principal amount of promissory notes.
  - Instrument: loan
  - Principal: US$5 million in aggregate principal amount of promissory notes
  - Event: incurrence
  source text: US$5 million in aggregate principal amount of promissory notes, subject to adjustments under the definitive agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1813452/000143774924016374/0001437749-24-016374-index.htm
- Executive change
  David Loop was appointed as Director at Planet 13 Holdings Inc..
  - Action: appointed
  - Role: Director
  source text: the Board approved Mr. Loop’s appointment to the Board to be effective the next business day following the 2024 annual meeting of stockholders
  evidence_url: https://www.sec.gov/Archives/edgar/data/1813452/000143774924016374/0001437749-24-016374-index.htm
- M&A Transactions
  Planet 13 Holdings Inc. completed an acquisition involving VidaCann, LLC for approximately US$63.4 million (closed 2024-05-10).
  - Action: acquisition
  - Counterparty: VidaCann, LLC
  - Consideration: approximately US$63.4 million
  - Closing: 2024-05-10
  source text: Canadian Securities Exchange (based on the Bank of Canada CAD to USD exchange rate on May 9, 2024 of CAD$1.00=US$0.7304), the total consideration is valued at approximately US$63.4 million. The Seller Notes accrue interest at 5% per annum and the principal amount and all accrued and unpaid interest are due on April 1, 2025. In the event of default, the Sellers may
  evidence_url: https://www.sec.gov/Archives/edgar/data/1813452/000143774924016374/0001437749-24-016374-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.