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Current Issues in Cannabis Industry Finance, Mergers and Acquisitions

David N. Feldman
David N. Feldman | Feldman Legal Advisors, PLLC

David N. Feldman concentrates his law practice on corporate and securities law and mergers and acquisitions, as well as general representation of public and private companies, entrepreneurs, investors, and private equity and venture capital firms.

On-Demand: February 23, 2023

Current Issues in Cannabis Industry Finance, Mergers and Acquisitions

$95.00 1 hour CLE

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Program Summary

Billions of dollars in financings and M&A transactions have been completed in the burgeoning US cannabis industry in the decade since the first states have legalized its recreational or adult use. This program will discuss current issues faced by those involved in these transactions, including navigating the federal-state law conflict, given cannabis (other than hemp) remains a Schedule 1 federally illegal drug even as states have legalized its production, sale, and use. This program will benefit attorneys advising or seeking to advise cannabis companies, as well as in-house counsel and compliance officers in these businesses and attorneys advising companies planning an entry into the cannabis industry.

This course is co-sponsored with myLawCLE.

Key topics to be discussed:

  • Understand the complex interaction between state laws legalizing cannabis and the continued federal illegality of cannabis (other than hemp)
  • Understand some of the unique issues in structuring and documenting financing transactions for cannabis companies, including regulatory and licensing issues, due diligence, and ensuring the enforceability of agreements against federal illegality
  • Understand the somewhat volatile M&A market in cannabis companies and some unique and current issues including structuring non-competes, dealing with transfers of licenses, and issues relating to the consideration paid in stock of public cannabis companies
  • Discuss recent enforcement actions in these areas to learn best compliance practices and how to avoid becoming the target of an investigation

Date: February 23, 2023

Closed-captioning available

Speakers

David N. Feldman_ Feldman Legal Advisors, PLLC._FedBarDavid N. Feldman | Feldman Legal Advisors, PLLC

David N. Feldman concentrates his law practice on corporate and securities law and mergers and acquisitions, as well as general representation of public and private companies, entrepreneurs, investors, and private equity and venture capital firms. David has represented a wide range of clients in the legal cannabis and psychedelics industries since 2013. He provides guidance on private placements, public offerings, loan structuring and fund formation for cannabis companies, as well as corporate structuring advice and applications for grow, processing and dispensary licenses. He also advises on risk assessment issues for large, multinational businesses seeking to enter the cannabis industry.

The global guide Chambers & Partners ranked Mr. Feldman as a leading US attorney in cannabis law and one of only seven US lawyers in “band 1” for corporate and transactional work in the industry. In addition, the National Law Journal named him a “Cannabis Law Trailblazer” and Business Insider named him as a top lawyer in the cannabis industry. He has also been listed for the last three years in the Top 200 Cannabis Lawyers published by Cannabis Law Digest. David is the former team lead of an AmLaw 100 firm’s 60-attorney Cannabis Industry Group.

David also advises emerging growth companies in a range of industries with regard to alternatives to traditional financing through initial public offerings and is considered an authority on public offerings through SEC Regulation A+. He published a book on that subject, called Regulation A+ and Other Alternatives to a Traditional IPO (John Wiley & Sons), in 2018. David has also published The Entrepreneur’s Growth Startup Handbook: 7 Secrets to Venture Funding and Growth Success (2013) and the award-winning Reverse Mergers and Other Alternatives to a Traditional IPO (First Edition 2006, Second Edition 2009).

David is a Wharton School and University of Pennsylvania Carey Law School graduate and former Chair of Wharton’s worldwide alumni.

Agenda

I. Understand the complex interaction between state laws legalizing cannabis and the continued federal illegality of cannabis (other than hemp) | 12:30pm – 12:45pm

II. Understand some of the unique issues in structuring and documenting financing transactions for cannabis companies, including regulatory and licensing issues, due diligence, and ensuring the enforceability of agreements against federal illegality | 12:45pm – 1:00pm

III. Understand the somewhat volatile M&A market in cannabis companies and some unique and current issues including structuring non-competes, dealing with transfers of licenses, and issues relating to the consideration paid in stock of public cannabis companies | 1:00pm – 1:15pm

IV. Discuss recent enforcement actions in these areas to learn best compliance practices and how to avoid becoming the target of an investigation | 1:15pm – 1:30pm

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