Company: VREOF
Filing Date: 2025-03-21
Form Type: DEFM14C
Source: 0001140361-25-009815
Chunk: 235

Company: Vireo Growth Inc.
Filing Date: 2025-03-21
Form: DEFM14C
Chunk 235
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 the “Wholesome Earn-Out Shares”).

At or prior to the Wholesome Closing Date, each option or similar award to or grant to purchase Wholesome capital stock, including Wholesome Common Stock (the “Wholesome Options”) will be terminated, and Wholesome will issue to each holder of Wholesome Options the number of shares of Wholesome Common Stock subject to each Wholesome Option, net of option exercise price and any applicable required tax withholding. Each former holder of Wholesome Options who receives Wholesome Common Stock in exchange for the termination of a Wholesome Option will become a Wholesome stockholder and participate in the transactions contemplated by the Wholesome Merger Agreement along with all other Wholesome stockholders.

The Wholesome Merger will be accounted for as a business combination in accordance with U.S. GAAP, with management concluding Vireo is the accounting acquirer.

The following unaudited pro forma condensed combined financial information presents the combination of the financial information of Vireo and Wholesome adjusted to give effect to the Wholesome Merger and related transactions. The following unaudited pro forma condensed combined financial information has been prepared in accordance with Article 11 of Regulation S-X as amended by the final rule, Release No. 33-10786 “Amendments to Financial Disclosures about Acquired and Disposed Businesses.”

The following unaudited pro forma condensed combined financial information is based on the historical financial statements of Vireo and Wholesome, both of which have December 31 fiscal year ends, as adjusted to give effect to the Wholesome Merger. The unaudited pro forma condensed combined balance sheet as of December 31, 2024 gives effect to the Wholesome Merger as if it had occurred on December 31, 2024. The unaudited pro forma condensed combined statement of operations for the year ended December 31, 2024 gives effect to the Wholesome Merger as if it had occurred on January 1, 2024.

The unaudited proforma condensed combined financial information should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations for Acquirees” and the historical financial statements and related notes of Vireo and Wholesome.

The pro forma adjustments are based on available information and assumptions that management believes is reasonable. Included in the unaudited pro forma condensed combined financial information is an estimate of the consideration