Hexo Corp. (HEXO) announced that the Ontario Superior Court of Justice has granted the final order in connection with the previously announced statutory plan of arrangement under section 182 of the Business Corporations Act, pursuant to which Tilray Brands (TLRY) will acquire all of the issued and outstanding common shares and non-voting Series 1 Preferred Shares of the company. Holders of Common Shares of the company will receive 0.4352 of a share of Tilray common stock for each whole Common Share held, while holders of the recently issued non-voting Series 1 Preferred Shares will receive a fraction or a number of Tilray Shares based on the Preferred Share Exchange Ratio set out in the Company’s press release issued on June 1, 2023. As previously announced, the Arrangement was approved by the Common Shareholders at a special meeting of the Common Shareholders held on June 14, 2023. The Arrangement is expected to be completed in the coming days, subject to the delivery by the parties of customary closing deliverables.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on HEXO:
- Hexo price target lowered to C$1 from C$1.50 at Canaccord
- Hexo price target lowered to C$1.00 from C$1.50 at Canaccord
- Hexo reports Q3 net income C$ (117.2M) vs. C$ (145.0M) last year
- Hexo shareholdres approve acquisition by way of arrangement with Tilray
- Hexo Corp (ASE) (HEXO) Q3 Earnings Cheat Sheet