Company: VREOF
Filing Date: 2025-03-07
Form Type: PRE 14C
Source: 0001140361-25-007601
Chunk: 13

Company: Vireo Growth Inc.
Filing Date: 2025-03-07
Form: PRE 14C
Chunk 13
---
, par value $0.001 per share, Series B Common Stock, par value $0.001 per share, and Series B2 Common Stock, par value $0.001 per share, of Wholesome (the “Wholesome Common Stock”) will be converted into the right to receive, in accordance with the terms of the Wholesome Merger Agreement, the applicable portion of the Wholesome Closing Share Payment (as defined below in the section entitled “Description of the Merger Agreements — Wholesome Merger — Consideration to be Received in the Wholesome Mergers”), subject to a post-closing purchase price adjustment mechanism, which Wholesome Closing Share Payment will be paid via newly issued Subordinate Voting Shares at a Closing Share Price of $0.52. The Wholesome stockholders will also be eligible to receive additional Subordinate Voting Shares through an earn-out mechanism based upon the EBITDA performance of Wholesome and its subsidiaries (excluding Arches IP, Inc., a Delaware corporation and a non-wholly owned subsidiary of Wholesome (“Arches”), and the revenue performance of Arches during 2026). The Wholesome stockholders will also be eligible to receive additional Subordinate Voting Shares through a separate earn-out mechanism based upon the revenue performance of Arches. No consideration will be paid with respect to any Wholesome Common Stock held in treasury by Wholesome or owned by Wholesome. The Wholesome stockholders will also be required to forfeit Subordinate Voting Shares received by such stockholders pursuant to the Wholesome Merger Agreement in certain circumstances. For additional information on the Wholesome Closing Share Payment and the additional earn-out elements of the merger consideration payable in connection with the Wholesome Merger, see “Description of the Merger Agreements — Wholesome Merger — Consideration.” |

| • | Wholesome Options: Each option or similar award to or grant to purchase Wholesome’s capital stock (including Wholesome Common Stock) awarded and outstanding as of the Wholesome Closing Date, including under the WholesomeCo, Inc. 2020 Equity Incentive Plan (the “Wholesome Options”), shall be terminated, and Wholesome shall 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