State Records Confirm Silver Point Subsidiary Now Holds Theraplant's License

Hartford, CT — November 3, 2025

Public records now confirm that DXR Finance 3, LLC, a corporate affiliate of Silver Point Capital, currently holds Connecticut Medical Marijuana Producer License MMPR.0000004 at 856 Echo Lake Road in Watertown — the same facility historically operated by Theraplant LLC.

According to the Department of Consumer Protection’s license registry, DXR Finance 3 LLC’s producer credential became effective on February 8, 2025 and remains active through February 7, 2026. The license record lists the exact address previously associated with Theraplant’s cultivation site, making clear that ownership of one of Connecticut’s original cannabis production facilities now rests with a finance company headquartered at Two Greenwich Plaza in Greenwich, CT — the business address of Silver Point Capital.

Secretary of the State filings show that DXR Finance 3 LLC was formed in Delaware in 2023, with its sole member DXR Finance HoldCo, LLC, which in turn is owned by DXR Finance Parent, LLC. Each of those entities is also registered at Two Greenwich Plaza. The same corporate network — including DXR-GL Holdings I, II, and III — is named as a defendant in the bankruptcy trustee’s pending lawsuit against Greenrose’s former directors.

That lawsuit alleges that the board of The Greenrose Holding Company Inc. conspired with Silver Point to orchestrate a “consensual foreclosure” that transferred Greenrose’s only valuable subsidiaries, Theraplant and True Harvest, into new Delaware companies controlled by Silver Point. The complaint claims the move violated shareholder-approval laws and deprived Connecticut’s cannabis market of an independent operator just weeks before adult-use sales began.

The new evidence from state business and licensing databases demonstrates the real-world result of that transaction: Theraplant’s state cannabis license now belongs to a Wall Street finance entity created during the very foreclosure period described in the federal filings. DXR Finance 3’s parent and affiliate companies — DXR Finance HoldCo and DXR Finance Parent — were both incorporated in 2023, immediately after the March 2023 Strict Foreclosure Agreement executed between Greenrose and Silver Point’s DXR subsidiaries.

The records collectively show a continuous paper trail from the 2022 Transaction Support Agreement through the 2023 Strict Foreclosure Agreement and into the 2025 license renewal, confirming that Silver Point Capital’s corporate structure now directly controls a Connecticut cannabis producer license.

This raises renewed questions about state oversight and the intent of Connecticut’s cannabis equity framework, which was designed to prevent out-of-state financial groups from capturing local cultivation rights. Regulators have not yet commented publicly on why a private-equity lender tied to an ongoing bankruptcy fraud-related suit was allowed to assume that license.

CT CannaTimes will continue monitoring both the bankruptcy proceedings and DCP’s handling of the DXR Finance 3 license renewal to determine whether state regulators plan to review Silver Point’s continuing control of Theraplant’s operations.