BODY & MIND INC.: M&A transaction — Body and Mind sells Ohio dispensary for $8.225M, repays debt, pro forma loss narrows

BODY & MIND INC.

Sold NMG OH (Ohio dispensary) for initial cash consideration of $8.225M, subject to working capital adjustment.
Used $7.33M of proceeds to fully repay senior secured debt; remaining funds for IL and NJ retail development.
Pro forma net loss for nine months ended Apr 30, 2023 reduced from $9.3M to $3.7M, reflecting gain of $6.6M.
Contingent bonus of $2.5M per additional Ohio dispensary license granted to NMG OH (excluding adult-use at existing location).

item 2.01 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 0.8

BODY & MIND INC. completed a disposition involving FarmaceuticalRX, LLC for US$8.225 million.

Action: disposition
Counterparty: FarmaceuticalRX, LLC
Consideration: US$8.225 million

Exact text from the filing

Ohio dispensary, to the Purchaser. The Body and Mind Ohio dispensary opened in 2019 and has now been sold to the Purchaser for an initial purchase price for the Interests of US$8.225 million, subject to a working capital adjustment and other customary adjustments. The transaction also includes a contingent of a US$2.5 million bonus payment to DEP for each additional

View on SEC.gov

Browse all m&a transactions →

Source: SEC EDGAR

accession 0001640334-23-001939

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.