MJ Biz Report Indicates That Columbia Care CEO Set To Net $US100Million In Cresco Deal

MJ Biz write

Columbia Care co-founder and longtime CEO Nicholas Vita likely will emerge with more than $100 million in cash and stock, thanks to Cresco Labs’ pending acquisition of the New York-based multistate marijuana operator.

Details of Vita’s pay package were shared in a regulatory filing in advance of Friday’s special meeting at which Columbia Care stockholders approved the blockbuster acquisition by Chicago-based Cresco.

Columbia Care said Friday that the deal is expected to close near the end of this year.

A compensation expert called parts of the CEO’s compensation package “atypical.”

Columbia Care didn’t respond to repeated requests for comment.

Details of pay package

Vita’s stock holdings and potential compensation include the following, according to the regulatory filing:

  • Stock valued at $95.5 million at the time of the all-stock merger announcement on March 23. Cresco’s acquisition price represented a 16% premium at the time. The deal’s initial price tag was around $2 billion, although stock prices have since fallen.

Read more at  https://mjbizdaily.com/columbia-care-ceo-set-to-net-100m-plus-from-cresco-cannabis-merger/?utm_medium=email&utm_source=newsletter&utm_campaign=MJD_20220708_NEWS_Daily

Discover a CBD store where you are sure to find only the best quality items! TheFightDoctorsCom has all the CBD products you want to try....

 CBD / Featured

The CBD Benefits is an educational, informational and news cannabidiol resource. We’re dedicated to providing people with the most reliable CBD information based on scientific...

 CBD / Featured

Are you looking for an online shop where you can always find high-quality THC gummies and other hemp products? We invite you to browse the...

 CBD / Featured

We are an I-71 compliant cannabis delivery service meeting your needs in the Washington DC, Maryland, and Virginia area. We offer a wide range of...

 Cannabis Delivery / Featured

Page 1 of 3