Vireo Growth to Acquire Planet 13 in All-Stock Deal at 24% Premium

summarizeSummary

Planet 13 Holdings Inc. has entered into a definitive agreement to be acquired by Vireo Growth Inc. in an all-stock transaction, offering a 24% premium to Planet 13's last closing price and creating the largest U.S. cannabis operator by store count.

check_boxKey Events · M&A and Partnerships · PLNH

• Definitive Merger Agreement Signed

  Vireo Growth Inc. will acquire Planet 13 in an all-stock merger, with each Planet 13 share converting into 0.015383618 Vireo subordinate voting shares.

• 24% Premium for Planet 13 Shareholders

  The exchange ratio implies a 24% premium over Planet 13's closing price on July 24, 2026, and a 16.6% premium over the 20-day VWAP.

• Strategic Combination Creates Scale

  The combined company will operate approximately 265 dispensaries across 15 states, becoming the largest U.S. cannabis operator by dispensary count.

• Planet 13 to be Delisted Post-Closing

  Upon completion, Planet 13 shares will be delisted from the CSE and OTCQX, and the company will cease to be a reporting issuer.

auto_awesomeAnalysis · PLNH · Industrial Applications And Services

Planet 13 has agreed to be acquired by Vireo Growth in an all-stock merger that values Planet 13 at a 24% premium to its last closing price. Each Planet 13 share will be exchanged for 0.015383618 Vireo subordinate voting shares. The deal combines two multi-state cannabis operators, creating the largest U.S. cannabis company by dispensary count with an expected 265 locations across 15 states. For Planet 13 shareholders, the transaction provides a premium exit at a time when the company has been struggling with declining revenues and widening losses. The merger is subject to shareholder and regulatory approvals, with a US$1.8 million termination fee payable by Planet 13 if the board changes its recommendation or accepts a superior proposal. The deal is expected to close in the coming months, after which Planet 13 will be delisted.