Ayr Wellness (CSE: AYR.a) this afternoon announced that it has closed on the acquisition of Liberty Health Sciences (CSE: LHS). The transaction, initially valued at $372 million, was an all-stock transaction.

The closing of the transaction follows the two firms receiving shareholder approval from stakeholders in Liberty Health earlier this month. Liberty Health shareholders received 0.03683 Ayr subordinate voting shares for each share held in Liberty Health. Ayr has now completed this exchange, having acquired all shares of Liberty Health.

As a result of the transaction, 12.7 million new shares of Ayr were issued. Additional shares will be issued at the conversion ratio for currently outstanding convertible debentures held by legacy Liberty Health debtholders as well.

Ayr Wellness now has operations in seven states, including Florida, Massachusetts, Nevada and Pennsylvania along with pending acquisitions in New Jersey, Arizona and Ohio.

Ayr Wellness last traded at $39.95 on the CSE.

Information for this briefing was found via Sedar and Liberty Health Sciences. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.