TILT Holdings Inc. completed the acquisition of cannabis distribution company Blackbird Holdings Corp. for $50 million.
Blackbird supports more than 250 wholesale and retail cannabis operators in Nevada and California, according to a Jan. 16 news release.
Cambridge, Mass.-based TILT Holdings paid Blackbird Holdings $5 million in cash and issued 161,543 compressed shares worth $45 million. Each compressed share is convertible into 100 common shares and is valued at $278.48.
TILT Holdings, which provides software, infrastructure and capital support to cannabis retailers, recently closed an