Ayr Secures $20M Deal For Cannabis-Infused Seltzer Co.

Law360 (September 7, 2021, 5:00 PM EDT) — Ayr Wellness LLC, a multistate cannabis company, announced Tuesday that it has moved into a definitive agreement to acquire Cultivauna LLC, the owner of Levia, a brand of cannabis-infused seltzers and water-soluble tinctures, for a total price of $20 million.

According to a statement, Ayr plans to purchase 100% of the equity interests of Cultivauna, and the $20 million deal will be made up of $10 million in cash and the remainder in stock.

The statement also says an earn-out payment of up to $40 million will be paid in shares based on achievement revenue targets for 2022 and 2023….

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