California-based marijuana delivery company Eaze Technologies has a new owner after a public auction of corporate assets.
The bundle of Eaze assets were purchased for $56 million in August via a telephone auction by a firm owned by Netscape co-founder James Henry Clark, according to Green Market Report.
Though Clark now has ownership of Eaze, the company’s future is up in the air.
“The new ownership group is evaluating the status of each state’s operations and expects to make a decision prior to year end about what will continue to operate or be closed down,” Eaze CEO Cory Azzalino told Green Market Report via email.
Clark’s FoundersJT acquired the following assets from San Francisco-based Eaze:
- Accounts.
- Chattel paper, which denotes a monetary obligation and security interest.
- Commercial tort claims.
- Deposit accounts and cash.
- Equipment and inventory.
FoundersJT – a holding company that typically comes into play in these types of transactions – did not assume certain liabilities from Eaze, including potential unpaid invoices to brands, manufacturers and other vendors.
The acquisition by Clark, a tech billionaire and the largest investor in Eaze, follows his May foreclosure on the delivery service after it defaulted on a loan.
