Yeah, and how is the CA legal market doing these days? Have you been paying attention?

You won't have to wait long. The same 4 incumbent players will fully control the market for at least another full calendar year (by design). Everyone can legally grow their own as of July 1st. After that, it's game over.

It's rationalizing the complete and total dominance of the CT market by corporate cannabis. But spin it however you need to.

The short answer is we will see less money, and less socially beneficial ownership, than the supporters of this state’s legalization envisioned in the spring of 2021, when the General Assembly passed the law that Gov. Ned Lamont signed with fanfare.

Love it. Great composition.

So maybe Silver Point Capital just keeps infusing them with runway, plausibly? Similar to what happens in Canada.

Not sure about the letter, but the spirit of this part of the law is to ensure adequate capacity in the supply pipeline before opening up adult-use retailers. Without Theraplant, that pipeline is right back to where it was prior to November 10, 2022 when they converted.

I still think they’ll likely come up with a legalese answer for why they won’t have to shutdown the market if canopy space dips below 250k. “Projected future canopy footprint will sufficiently replace the outgoing”

Serious question: does the SPAC factor come into play here in terms of how the debt can be restructured? I am not a lawyer.

The answer is quite simple, the longer it takes, the more advantage the multi state operators have. They have said this openly themselves.