This is a VERY interesting deal…the purchase price of $53 million is being paid half in cash and half in MedMen stock. Yep, the stock that lost 25% of its value in the first two days of trading…would you take 50% in stock?
A little bit of info about their stock for those who’re interested: https://www.bloomberg.com/quote/MMEN:CN
You might also want to look at - Marijuana Stock Report: MedMen and the Terrible, Horrible, No Good, Very Bad IPO
and a YouTube video that will make your hair stand up - MedMen Weed Stock - how they screw the little guy
The long and short of this is that the CEO is UNFIT to run a public company…and they aren’t unique. They two two top executives are essentially taking a HUGE chunk of the IPO proceeds out of the company as UPFRONT compensation…no tie to stock price, of vesting, just pulling it out. This kind of shit happens in the small cap space from time to time. Unfortunately, it appears that a greedy money grab is going to possibly what could have been a great company.
Florida is about impossible to get in. I bet Florida is about to open up and Treadwell is getting out while the getting is good. I bet there will be plenty of meat on the bone in the end. Like it or not big business is here so either get on the bus or get ran over.