Trulieve Files Resale Registration With SEC For Subordinate Voting Shares Of 2021 Acquisitions

Trulieve Cannabis Corp. TRUL TCNNF is undertaking a resale of its subordinate voting shares issued as consideration for previously announced 2021 acquisitions. The Florida-based company reported Friday that it filed the resale registration on Form S-1 with the security and exchange commission (SEC) on Jan. 21.

In 2021, Trulieve finalized the acquisition of:

• Certain assets from each of Patient Centric of Martha's Vineyard Ltd. and Nature's Remedy of Massachusetts, Inc.;
• All of the outstanding equity of Anna Holdings LLC, Mountaineer Holding, LLC, and Solevo West Virginia LLC.

In relation with and as consideration for these purchases, the company issued a total of 1.58 million subordinate voting shares to certain stakeholders.

On January 21, 2022, Trulieve also filed a post-effective amendment to its existing resale registration statement on Form S-1, as amended covering the resale of certain securities of the company. The amendment was filed to update the existing registration statement to include unaudited interim financial statements of Trulieve and certain information regarding the company's acquisition of Harvest Health & Recreation Inc. No additional securities were registered for resale by the selling shareholders under the existing registration statement under the post-effective amendment.

The company is not selling any subordinate voting shares under the registration statement or the existing registration statement and will not receive any proceeds from the sale of subordinate voting shares by the selling shareholders under the registration statement or by the existing selling shareholders under the existing registration statement, as amended. 

More recent news from Trulieve:

Trulieve To Exclusively Produce And Sell Connected Cannabis Products Across Florida

Trulieve Launches Cannabis Concentrates, Live Diamonds, Latest Hydrocarbon Extraction Product

Price Action

Trulieve shares closed Friday market session 7.14% lower at $20.94 per share.

Photo: Courtesy of Jeff W on Unsplash