California-based marijuana supply firm Eaze Applied sciences has a brand new proprietor after a public public sale of company belongings.
The bundle of Eaze belongings had been bought for $56 million in August through a phone public sale by a agency owned by Netscape co-founder James Henry Clark, in accordance with Inexperienced Market Report.
Although Clark now has possession of Eaze, the corporate’s future is up within the air.
“The brand new possession group is evaluating the standing of every state’s operations and expects to decide previous to yr finish about what is going to proceed to function or be closed down,” Eaze CEO Cory Azzalino instructed Inexperienced Market Report through e-mail.
Clark’s FoundersJT acquired the next belongings from San Francisco-based Eaze:
- Accounts.
- Chattel paper, which denotes a financial obligation and safety curiosity.
- Industrial tort claims.
- Deposit accounts and money.
- Gear and stock.
FoundersJT – a holding firm that sometimes comes into play in all these transactions – didn’t assume sure liabilities from Eaze, together with potential unpaid invoices to manufacturers, producers and different distributors.
The acquisition by Clark, a tech billionaire and the biggest investor in Eaze, follows his Might foreclosures on the supply service after it defaulted on a mortgage.