The owner of pioneering High Times magazine is scrambling to close a marijuana retail acquisition in California that includes a tangle of owners and entities, several social equity partners and properties not yet built out.
Los Angeles-based High Times Holding is trying to complete the $67.5 million deal with Harvest Health & Recreation by putting in just $1.5 million in cash.
Most of the remainder would be stock in High Times, which has been attempting for two years to raise money through a small-investor Regulation A stock offering.
If the High Times deal goes through, the majority of the entities will have changed hands from Have a Heart founder Ryan Kunkel to Harvest to High Times in a matter of months.
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