Company: VREOF
Filing Date: 2025-03-07
Form Type: PRE 14C
Source: 0001140361-25-007601
Chunk: 244

Company: Vireo Growth Inc.
Filing Date: 2025-03-07
Form: PRE 14C
Chunk 244
---
olesome E-Commerce Revenue Amount reduced to take into account the value of the Wholesome E-Commerce Revenue Amount attributable to any options or similar grants to purchase equity interests of Arches issued and outstanding as of the Wholesome Closing Date.

The Wholesome E-Commerce Earn-Out Amount shall be paid by the Company through the issuance of newly issued Subordinate Voting Shares at a share price of the greater of $1.05 and the 20-day volume weighted average price of such Subordinate Voting Shares immediately prior to the end of the Wholesome Earn-Out Period.

Wholesome Forfeiture Amount: The stockholders of Wholesome will be required to forfeit a portion of the Subordinate Voting Shares received by such stockholders calculated and determined in connection with the final actual amount of the Merger Consideration (the “Wholesome Actual Closing Merger Consideration”) in the event that (i) (a) the higher of (I) the consolidated trailing twelve month adjusted EBITDA of Wholesome and its subsidiaries (excluding Arches) for the twelve full calendar months ending December 31, 2026, and (II) the consolidated trailing nine month adjusted EBITDA of Wholesome and its subsidiaries (excluding Arches) for the last nine months of calendar year 2026, such amount annualized to reflect a full 12-month period, is less than (b) ninety-six and one-half percent of the closing EBITDA of $20,000,000 (the absolute value of the amount of the deficiency (a) to the amount calculated in (b) if any, the “Wholesome EBITDA Deficiency”); and (ii) (a) consolidated market share in Utah of Wholesome and its subsidiaries (excluding Arches) for the year ending December 31, 2026 is less than consolidated market share in Utah of Wholesome and its subsidiaries (excluding Arches) for the year ended December 31, 2024, or (b) the consolidated EBITDA margin of Wholesome and its subsidiaries (excluding Arches) for the year ending December 31, 2026 is less than the consolidated EBITDA margin of Wholesome and its subsidiaries (excluding Arches) for the year ended December 31, 2024; and (iii) the 20-day volume weighted average price of such Subordinate Voting Shares immediately prior to the end of the Wholesome Earn-Out Period is greater than $1