Canopy Growth (CGC) and Acreage Holdings (ACRHF) announced that it is anticipated that Canopy USA will complete its acquisition of Acreage on or around December 9, subject to the satisfaction or waiver of closing conditions set out in the arrangement agreements. Canopy Growth and Acreage are party to an arrangement agreement dated April 18, 2019, as amended, relating to the proposed acquisition of all issued and outstanding Class E subordinate voting shares of Acreage pursuant to a plan of arrangement under the Business Corporations Act. The fixed share acquisition is anticipated to occur immediately after the acquisition of the Class D subordinate voting shares of Acreage pursuant to a plan of arrangement under the Business Corporations Act in accordance with the arrangement agreement dated October 24, 2022, as amended, among Canopy Growth, Acreage and Canopy USA. Upon the closing of the acquisitions, Canopy USA will own 100% of the issued and outstanding shares of Acreage. As previously announced by Acreage, if the price of the common shares of Canopy Growth on the Nasdaq does not go above $5.00 prior to closing of the acquisitions, holders of fixed shares will not receive any consideration in exchange for their fixed shares.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on CGC:
- Canopy Growth Appoints New CEO Luc Mongeau
- Canopy Growth appoinnts Luc Mongeau as CEO, effective January 6
- Acreage Holdings provides update on corporate transactions
- Largest borrow rate increases among liquid names
- Rising High: Numinus Wellness to sell five Utah clinics for $3.53M
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
