04:22 PM EST, 11/06/2024 (MT Newswires) -- TerrAscend ( TSNDF ) , down 21% in Wednesday trading, said after market close it agreed to acquire Ratio Cannabis, a dispensary located in Goshen Township, Ohio.

The deal is valued at $10.3 million, which will be paid with $5 million in cash, $1.32 million in TerrAscend ( TSNDF ) shares, and a $3.98 million seller's note. The acquisition marks TerrAscend's ( TSNDF ) entry into Ohio, its sixth state, the company said.

TerrAscend USA, through its Ohio Dispensing 1 unit has the option to purchase the assets of Ratio Cannabis, pending certain conditions. The transaction will close once the option is exercised and after the Ohio Division of Cannabis Control's approval.

The company's shares closed down $0.30 to $1.10 on the Toronto Stock Exchange.