Serruya Private Equity Leads $100M Backstopped Private Placement in MedMen

Consumer Discretionary · United States · US$100 million

Investors led by Serruya Private Equity purchased US$100 million of units in MedMen Enterprises at US$0.24 (C$0.32) per unit on August 17, 2021, with SPE-affiliated investors backstopping the full raise. Proceeds funded expansion in California, Florida, Illinois and Massachusetts and transformed the balance sheet. Michael Serruya joined MedMen's board as its seventh member as part of the deal, and became Chairman and interim CEO that November.