Medicine Man Technologies (Schwazze) Enters Restructuring Deal with Vireo, Plans Major Asset Sale and Liquidation of Remaining Operations
Medicine Man Technologies Inc., operating as Schwazze, has entered into a Restructuring Support Agreement (RSA) with an affiliate of Vireo Growth Inc. and other stakeholders. Under the RSA, the company plans to sell a majority of its assets to a newly formed entity, NewCo, which will be majority-owned by Vireo. Following the asset sale, the remaining operations of the company will be liquidated and wound down. The credit bid for the asset sale will be submitted by the collateral agent for the senior secured notes, and, if successful, NewCo will assume certain liabilities and discharge most of the senior secured notes. NewCo is set to receive up to $62 million in financing to support the transaction, refinance specific debts, and provide working capital. Remaining company assets not included in the sale will be liquidated, with proceeds distributed according to legal priorities.
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