Billion Dollar Trulieve-Harvest Merger Closes, Combined Co. To Hit $1.2B In 2021 Revenue

Trulieve Corp (CSE: TRUL) (OTCQX: TCNNF) and Harvest Health & Recreation Inc. (CSE: HARV) (OTCQX: HRVSF) have wrapped up their previously announced billion-dollar merger after months of negotiations.

The move comes on Trulieve's announcement that it has secured $350 million in financing through a private placement of 8% senior secured notes due 2026.

Deal Details

Under the deal between the two giants, Trulieve acquired all of the issued and outstanding subordinate voting shares, multiple voting shares, and super voting shares of Harvest.

The holders of Harvest shares obtained 0.1170 of a subordinate voting share of Trulieve for each subordinate voting share of Harvest held.

In total, the Tallahassee, Florida-based company issued an aggregate of roughly 50.9 million of its shares in connection with the transaction in exchange for all of the issued and outstanding Harvest shares.

What Does It Mean For Trulieve?

The combined company will operate a robust retail network of 149 across 11 states and three strategic regional hubs, with market-leading positions in Arizona, …

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More Billion Dollar Trulieve-Harvest Merger Closes, Combined Co. To Hit $1.2B In 2021 Revenue