Greenrose Acquisition Corp said that it has closed the business combination with Connecticut-based Theraplant, LLC.
The company has been renamed The Greenrose Holding Company Inc, and will continue to be listed on the OTC under the symbols ‘GNRS’ and ‘GNRSW’.
The Amityville, New York-based company said that it is also planning to co-list on the NEO exchange after the close of the business combination.
READ: Greenrose Acquisition says shareholders approve business combination
“Becoming a public company provides us with an opportunity to accelerate both our organic and M&A expansion plans as we work to build a platform of cannabis assets around award-winning, high-quality flower,” said Mickey Harley, CEO of Greenrose.
The acquisition of Theraplantwas funded, in part, by a $105 million senior secured credit facility from DXR Finance, LLC, the release said.
With the closing of the business combination, Greenrose currently expects to continue to work towards the acquisition of each of Shango Holdings, Inc. and Futureworks LLC and certain assets of Arizona-based True Harvest, LLC.
Greenrose intends to become a multi-state cultivator and producer of cannabis brands and products. The company is driven by cultivation, with the understanding that being a leader in the cannabis industry requires starting with outstanding flowers derived from unique genetics and scalable growth methods.
Contact Ritika at ritikaa@proactiveinvestors.com