MedMen Enterprises, Inc.: M&A transaction — MedMen closes Arizona asset sale to Mint Cannabis for ~$14M; faces OTC downgrade and cease trade order

MedMen Enterprises, Inc.

Completed Arizona asset sale to Mint Cannabis affiliate for ~$14M cash; Nevada sale pending regulatory approval.
OTC Markets moved MedMen from OTCQB to OTC Expert Market for failure to file FY2023 10-K and Q1 2024 10-Q.
BCSC and Ontario Securities Commission issued cease trade order in Canada; trading prohibited except limited exception.
Cease trade order exemption: non-insider beneficial holders may sell on foreign regulated market through Canadian dealer.
CEO states divestiture of non-core operations allows optimization of go-forward operational footprint.

Key facts

Extracted from this filing and checked against the source text.

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

MedMen Enterprises, Inc. completed a disposition involving Retail Facilities Operations AZ, LLC (an affiliate of Mint Cannabis) for approximately $14 million, subject to certain adjustments (closed 2024-01-05).

Action: disposition
Counterparty: Retail Facilities Operations AZ, LLC (an affiliate of Mint Cannabis)
Consideration: approximately $14 million, subject to certain adjustments
Closing: 2024-01-05

Exact text from the filing

5, 2024, the sale of the Arizona Assets was consummated pursuant to the Arizona Agreement. The total consideration received by the Company for the sale was approximately $14 million, subject to certain adjustments as set forth in the Arizona Agreement. The sale of the Nevada Assets is still pending subject to regulatory approval for completion. The foregoing

View on SEC.gov

Browse all m&a transactions →

Source: SEC EDGAR

accession 0001493152-24-002242

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.