Snell & Wilmer advised True Harvest on the deal.
True Harvest, LLC (True Harvest), an Arizona-based cannabis company, announced its sale to The Greenrose Holding Company, Inc. (Greenrose), a multi-state cultivator and producer of cannabis brands and products. Under the terms of the acquisition, which expands the footprint of Greenrose into the Southwest, Greenrose paid consideration of $57.6 million at close, consisting of $12.5 million in cash, $23.0 million in the form of a convertible note, $4.6 million in assumed debt, and $17.5 million in shares of Greenrose’s common stock.
Joshua Schneiderman (Picture) led the Snell & Wilmer team advising True Harvest, LLC in the sale. The diverse team included Christina LaBarge and Katherine McCaig (corporate); Christopher Bayley and Benjamin Reeves (bankruptcy and reorganization); William Kastin, Carlene Y. Lowry and Bahar A. Schippel (tax); Greg Gautam (employee benefits); Jennifer R. Yee (labor and employment); R. Lee Fraley (intellectual property); and Timothy A. Smith (real estate).
Involved fees earner: Katherine Annuschat McCaig – Snell & Wilmer; Christopher Bayley – Snell & Wilmer; Lee Fraley, P.C. – Snell & Wilmer; Greg Gautam – Snell & Wilmer; William Kastin – Snell & Wilmer; Christina LaBarge – Snell & Wilmer; Carlene Lowry – Snell & Wilmer; Benjamin Reeves – Snell & Wilmer; Bahar Schippel, P.C. – Snell & Wilmer; Joshua Schneiderman – Snell & Wilmer; Timothy Smith – Snell & Wilmer; Jennifer Yee – Snell & Wilmer;
Law Firms: Snell & Wilmer;
Clients: True Harvest, LLC;