MergerJul 27, 2026, 08:56 AM
Vireo Growth to Acquire Planet 13 Holdings for 16.6% Premium
AI Summary
Vireo Growth Inc. announced a definitive merger agreement to acquire Planet 13 Holdings Inc. The transaction will see each Planet 13 share converted into 0.015383618 Vireo subordinate voting shares, representing a 16.6% premium over Planet 13's 20-day volume weighted average price. This acquisition is expected to significantly expand Vireo's presence in Nevada and Florida, add to its Illinois platform, and position the combined company as the largest U.S. cannabis operator by dispensary count with approximately 265 dispensaries across 15 states. The merger is subject to customary closing conditions, including stockholder and regulatory approvals.
Key Highlights
- Vireo Growth Inc. to acquire Planet 13 Holdings Inc. through a merger agreement.
- Each Planet 13 share to convert into 0.015383618 Vireo subordinate voting shares.
- Transaction represents a 16.6% premium over Planet 13's 20-day VWAP as of July 24, 2026.
- Expected to add 36 dispensaries, 3 cultivation/production facilities, and expand Nevada/Florida footprint.
- Combined entity projected to operate 265 dispensaries across 15 states, becoming largest U.S. cannabis operator by count.
- Transaction subject to Planet 13 stockholder approval, regulatory approvals, and SEC S-4 registration.
- Planet 13 Board and Special Committee unanimously approved the transaction.
- Planet 13 to pay a US$1.8 million termination fee to Vireo under certain circumstances.
Price Impact
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