The investment provides Tilray with a retail foothold in the U.S., should cannabis be legalized at the federal level, while Medmen receives much-needed capital to keep its business afloat.
In the deal, Tilray and other investors acquired 75% of Medmen’s outstanding secured convertible notes and 65% of its outstanding warrants for $165.8 million. Once converted into stock, Tilray will have a significant stake in Medmen.
“What Medmen does for Tilray is that it gives us a great brand. Ultimately, once legalization…