FLUENT has has entered into a purchase agreement with Legacy Therapeutics, pursuant to which Legacy will acquire 100% of the issued and outstanding equity interests in Cansortium Texas, a subsidiary of FLUENT.
Pursuant to the terms of the Purchase Agreement, which was signed May 1, 2026, the purchase price payable by Legacy is equal to $30 Million, of which $25M will be payable at closing and an amount equal to $2.5M will be payable on each of the first and second anniversary of the closing date. The Transaction is subject to applicable regulatory approvals and the satisfaction of certain other customary closing conditions. The Company intends to primarily use the proceeds from the Transaction to repay a portion of its existing senior secured debt, and may also use the remaining proceeds for working capital and general corporate purposes.
David E. Vautrin, Interim Chief Executive Officer of FLUENT, said, "We are excited to see how Legacy, under Randy's leadership, will leverage its deep pharmaceutical expertise and strong operational discipline to drive growth in the cannabis sector and expand the Texas market from our established base."
Randy J. Mire, Pharm.D, Founder of Legacy Therapeutics, said, "As the first pharmacist in the south to dispense medical marijuana, my focus has always been patient access and outcomes. We are honored to build on the platform FLUENT has established for Texas Compassionate Use patients."
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FLUENT Corp
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