Nabis Holdings Inc. agreed to fully acquire a medical marijuana business licensed in the state of Arizona for $15 million, comprising $7 million in cash, $2 million in common stock and $6 million deferred for 12 months.

The Nabis common stock will be determined by the 10-day trailing volume-weighted average price upon deal closing.

The asset operates a dispensary in Phoenix, which will be rebranded as Nabis after deal completion.

The transaction includes a cannabis-infused edibles brand available in more than 65 licensed retailers across Arizona.