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CO-CHAIR, BOSTON OFFICE CO-CHAIR, CANNABIS PRACTICEWith a strong background in finance and business operations, Frank A. Segall negotiates complex business deals, including mergers, acquisitions, sales, syndications, loans, restructuring, and equity investments. He works as outside general counsel to businesses throughout the world and has vast experience in a broad base of sectors, such as manufacturing, technology, transportation, and retail. In 2022, he was named a “Cannabis MVP of the Year” by Law360 and a “Go To Business Transaction Lawyer” by Massachusetts Lawyers Weekly.Frank is nationally renowned for his pioneering work with the cannabis industry—he was one of the first prominent corporate lawyers to enter the cannabis industry in 2012. From there he co-founded and led one of the first major cannabis business practices at a corporate law firm and has been at the forefront ever since. Over the years, Frank has developed a national practice for this fast-growing industry, assisting with such matters as business formation and corporate structuring, capital raising, and mergers and acquisitions.For example, Frank led the sale of two leading cannabis operators in a four-way merger resulting in the largest vertically integrated cannabis platform in the state of California. He has also been involved in not only structuring but sourcing on behalf of his clients hundreds of millions of dollars in financings for cannabis operators and closing those financings for both lenders and borrowers throughout the country, making him one of the most experienced finance attorneys in the space. Furthermore, Frank represents ancillary companies in cannabis such as a leading FinTech company providing software solutions to cannabis operators, and the leading provider of advanced cultivation and extraction solutions in the cannabis industry in its acquisition of two of the leading brands that provide equipment and solutions for extraction, post-processing, and testing for the cannabis and hemp industry. These representations are just a few of the transactions Frank and his team have successfully completed as a result of his pioneering efforts and deep experience in the cannabis industry.Frank’s colleagues describe him as “the ultimate networker” who creates business opportunities for anyone who comes into his sphere of influence and friendship. Intensely loyal and deal-smart, Frank knows how to open doors, make connections, and get things done.

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Massachusetts

U.S. District Court for the District of Massachusetts

Finance & Restructuring

Financial Services

Private Equity

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Family Offices

Cannabis

DOJ Final Order Rescheduling Marijuana: Key Implications, Guidance, and Opportunities for State-Licensed Medical Cannabis Businesses

Cannabis Industry Stakeholders React to Trump DOJ’s Rescheduling Order, New Hearing

President Trump Officials Reclassify Marijuana in Historic Announcement

2025 Wrap-Up: Historic Cannabis Rescheduling

Rescheduling Marijuana Opens Opportunity for Research, Tax Fairness

Trump Orders Expanded Access to Marijuana, CBD, Citing Medical Benefits

Blank Rome Poised to Guide Clients Through Marijuana Rescheduling

Ninth Annual State of the Cannabis Industry Conference

Blank Rome Attorneys Recognized in the 2026 Lawdragon 500 Leading Dealmakers in America Guide

2025 State of the Cannabis Industry: Blank Rome Hosts Premier Conference Featuring Top Industry Leaders

Scott H. Moskol, Frank A. Segall, and Shane A. Pennington Named Global Top 200 Cannabis Lawyers

Chambers USA 2025 Recognizes Blank Rome Attorneys and Practices

Understanding Cannabis Employee Stock Ownership Plans (“ESOPs”)—Key Questions and Practical Insights

Cannabis Industry in Massachusetts Has an Investment Problem

Blank Rome Represents State Electric Corporation in the Sale of its Business to E-J Electric Installation Co.

Blank Rome Represents Needham Bank in Providing $40 Million Revolving Credit Facility to Curaleaf Holdings

Blank Rome Partners Recognized in the 2025 Lawdragon 500 Leading Dealmakers in America Guide

Eighth Annual State of the Cannabis Industry Conference

Consolidation Trends in the Wake of Cannabis Rescheduling: Identifying Winners and Losers

State of the Cannabis Industry:  Blank Rome Hosts Premier Conference Featuring Top Industry Leaders

Frank A. Segall Named a Global Top 200 Cannabis Lawyer

Welcome to Cannabis Industry Insights

DealFest Northeast

DEA’s Marijuana Rescheduling Plan Has Law Firms High on Expanding Relationships with Cannabis Clients

Noteworthy Media Coverage

Blank Rome Launches in Boston with Prominent 25-Attorney Corporate and Finance Team

Noteworthy Speaking Engagements

DEA to Move to Reclassify Cannabis to Schedule III

Noteworthy Publications

Emerging Companies

Mergers & Acquisitions

Corporate

Bankruptcy & Restructuring

Distressed M&A & Reorganization in Bankruptcy

Finance

M&amp;A Transactions
<ul>
<li>Mergers, acquisitions, and sales of a variety of companies and commercial assets with transactions ranging from several million dollars to over $500 million.</li>
<li>A $500 million acquisition of international distribution company.</li>
<li>A $285 million acquisition of 500-unit franchise company.</li>
<li>A $185 million sale of consumer products company.</li>
<li>A $150 million roll up of several distribution companies in 36 months.</li>
<li>A $100 million sale of specialty chemicals company.</li>
<li>A $100 million sale of distribution company.</li>
<li>An $80 million merger of several professional firms.</li>
<li>A $50 million sale of plastic injection molding company.</li>
<li>A $60 million acquisition of finance company.</li>
<li>A $45 million sale of plastics molding company.</li>
<li>A $20 million simultaneous roll up of three data storage companies.</li>
<li>A $20 million sale of Massachusetts high tech company.</li>
<li>A $20 million sale of distribution company.</li>
<li>A $20 million sale of parking solutions company.</li>
<li>A $10 million sale of chemical distribution company.</li>
<li>A $10 million leveraged buy-out of asset management company.</li>
</ul>
Cannabis
<ul>
<li>Represented a cannabis company in bridge financing and a business combination with three other cannabis companies to create one of the largest leading California cannabis companies.</li>
<li>Represented an institutional lender in over $200 million of lending transactions to single state and multistate cannabis operators on a national basis.</li>
<li>Represented a premier multistate cannabis company in a $58 million senior secured loan transaction.</li>
<li>Represented a cannabis technology company in a $50 million acquisition of two leading brands in hemp extraction and post-processing.</li>
<li>Represented a bank client in connection with its $40 million revolving line of credit facility to one of the largest cannabis companies in the United States.</li>
<li>Advised a bank client with respect to a $40 million senior secured loan to a multistate cannabis company.</li>
<li>Represented a cannabis retailer in a $35 million sale of equity.</li>
<li>Represented a cannabis holdings company as a secured lender in receivership proceeding that resulted in the sale of the collateral operations for $35 million.</li>
<li>Represented a multistate cannabis producer and dispensary company in a $28 million loan transaction.</li>
<li>Served as transaction counsel for a cannabis retail company in potential deals valued at over $26 million.</li>
<li>Represented a cannabis technology company in a $25 million private placement.</li>
<li>Represented a bank client in a $20 million loan to a cultivation company.</li>
<li>Represented a cannabis technology company in its financing procurement of a $20 million convertible secured note from a national cannabis consumer packaged goods company.</li>
<li>Represented a bank client in connection with a $10 million term loan to a multistate vertically integrated cannabis company and certain of its operating subsidiaries.</li>
<li>Represented a cannabis operator in a capital raise of $8.5 million; secured lease, mortgage, and construction financing loan to construct a cannabis cultivation and product manufacturing facility.</li>
<li>Represented a cannabis-focused investment firm in various debt and equity financings, including an investment in a cannabis-focused vertically integrated events and financial services firm via secured convertible note financing.</li>
<li>Represented a premier multistate cannabis company in its acquisition of a dispensary in Illinois.</li>
<li>Represented a health products company in its acquisition of a hemp company known for CBD-infused personal care products.</li>
<li>Represented a cannabis retailer in its acquisition of a cultivation company.</li>
<li>Assisted a multistate operator with consolidating ownership structure and eliminating third-party involvement in subsidiary financing.</li>
<li>Represented a cannabis-focused investment firm in the merger of two companies.</li>
<li>Advised a client on all public disclosure obligations.</li>
<li>Served as special counsel for a cannabis company in the acquisition of an adult-use retail company.</li>
<li>Served as counsel for a cannabis banking and business solutions company in all regulatory matters relating to financing and obligations. Advised on legalization of psychedelics in various states.</li>
<li>Represented a trade company and its parent in the sale of a cannabis trade company to another cannabis trade company.</li>
<li>Counseled a client on seed and Series A capital raises for the first cannabis industry digital payments solution.</li>
<li>Served as counsel for a cannabis company in all regulatory and mergers &amp; acquisitions issues, as well as matters relating to financing and obligations.</li>
<li>Facilitated and closed an Article 9 secured party sale with respect to two cannabis facilities for a realty company and investment company.</li>
<li>Represented a lender in obtaining the first receivership of a cannabis operator in Massachusetts.</li>
<li>Represented a secured creditor of a cannabis company in connection with a successful receivership resulting in a sale of a portfolio of retail, distribution, and cultivation assets located in Nevada.</li>
<li>Counseled an investment firm in an investment in marijuana breathalyzer technology company via convertible note financing.</li>
</ul>
Financings
<ul>
<li>Representing borrowers and lenders in billions of dollars of asset-based, commercial, and real estate financings and restructurings throughout the United States and internationally.</li>
<li>Structured $200 million credit facility for a major lending institution.</li>
<li>Structured $150 million syndicated financing credit facility for a major lending institution secured by multiple properties throughout the United States.</li>
<li>Secured and structured $150 million warehouse line for lending facility and raised three million dollars in equity.</li>
<li>Secured and structured $70 million revolving line of credit facility for acquisition of company out of bankruptcy.</li>
<li>Secured and structured $40 million financing for regional restaurant chain with more than 100 ground lease and fee locations.</li>
<li>Secured and structured $25 million acquisition financing for a troubled manufacturer.</li>
<li>Structured $25 million financing secured by patent litigation.</li>
</ul>
Real Estate
<ul>
<li>Development, acquisition, financing, sale, and leasing of one-million-square-foot office complex and millions of square feet of office, industrial, and residential complexes.</li>
<li>Distressed structured deals.</li>
<li>Represent a variety of lenders and companies in restructurings, workouts, bankruptcy liquidations, and recovery matters.</li>
<li>Represented client in the acquisition and financing of four brand companies in approximately 120 days through a combination of assumption of debt, new financings, and Article IX strategies.</li>
<li>Secured $20 million of senior and junior debt to refinance client from its current lender avoiding protracted workout and assisted in restructure and sale of manufacturing business.</li>
<li>Secured buyer and structured liquidating sale of manufacturer to maximize recovery to shareholders.</li>
<li>Structured repurchase of company by founder within 12 months after his sale to buyer, including arranging for secured debt lender to remain in transaction</li>
<li>Secured senior debt, mezzanine debt, and equity for manufacturer in bankruptcy and assisted in its recovery from bankruptcy.</li>
<li>Structured investment and acquisition of majority control in distressed manufacturing company and restructured debt.</li>
</ul>

Frank A. Segall

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