Ascend Wellness terminates proposed MedMen NY acquisition over asset condition concerns

Ascend Wellness Holdings, Inc.

On August 15, 2022, Ascend announced it will not proceed with the non-binding term sheet to acquire MedMen NY, Inc.
Termination reason: MedMen cannot represent that its assets have not materially changed since December 31, 2021.
The non-binding term sheet was previously disclosed in Ascend's May 11, 2022 Form 8-K.
No financial terms, break-up fees, or regulatory conditions were specified in the filing.

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