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Trulieve Cannabis Corp (OTC:TCNNF) - Analyst: Trulieve s Harvest Merger Wouldn t Have Been Cantor s First Choice But It Brings More Value Than Just Assets

Share: Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) announced Monday it will buy Harvest Health & Recreation Inc. (CSE: HARV) (OTCQX: HRVSF) for a whopping $2.1 billion in an all-stock deal. Under the merger agreement, Harvest shareholders will acquire 0.1170 of subordinate voting shares of Trulieve for each Harvest share priced at $4.79. Upon completing the merger, Harvest shareholders should hold roughly 26.7% of Trulieve’s issued and outstanding pro forma shares (on a fully diluted basis). The Analyst Cantor Fitzgerald’s Pablo Zuanic kept an ‘Overweight’ rating on Trulieve’s stock but lowered the price target to $76 from $89. The Thesis Changes to the price target were necessary in response to the new merger and increased share count to 181 million, explained Zaunic in a Monday note.

Trulieve agrees to acquire Harvest Health in all-stock cannabis deal valued at about $2 1 billion

UPDATE: Trulieve agrees to acquire Harvest Health in all-stock cannabis deal valued at about $2.1 billion MarketWatch 5 days ago MARKET PULSE Trulieve Cannabis Corp. said Monday it has reached an agreement to acquire Harvest Health & Recreation Inc. in an all-stock deal valued at about $2.1 billion. Under the terms of the deal, Harvest shareholders will receive 0.1170 of a subordinate voting share of Trulieve for each Harvest subordinate voting share owned. The exchange rate implies a price per Harvest share of $4.79, equal to a 34% premium over its closing price Friday. Harvest shareholders will own about 26.7% of the issued and outstanding pro forma Trulieve shares once the deal closes. Trulieve is a cannabis multi-state operator with a focus on the northeast and southeast regions of the U.S., while Harvest Health is focused on the west coast and northeast regions. The new entity will have operations in 11 states with 22 cultivation and processing facilities with a to

Trulieve Announces the Largest US Cannabis Transaction; Acquisition of Harvest Health & Recreation Inc , Creates the Most Profitable Multi-State Operator in the World s Largest Cannabis Market

Footprint Provides National Scale with a Deep Regional Focus in Attractive Markets Expanded Runway for Growth with new Southwest Hub and Expanded Northeast and Southeast Hubs Combined Consensus 2021E Revenue of $1.2 Billion Trulieve and Harvest to Host a Joint Conference Call and Webcast today at 8:30 a.m. ET TALLAHASSEE, Fla. and PHOENIX, May 10, 2021 /PRNewswire/  Trulieve Cannabis Corp. ( Trulieve or the Company ) (CSE: TRUL) (OTC: TCNNF) and Harvest Health & Recreation Inc. ( Harvest ) (CSE: HARV,OTCQX: HRVSF) are pleased to announce they have entered into a definitive arrangement agreement (the  Arrangement Agreement ) pursuant to which Trulieve will acquire all of the issued and outstanding subordinate voting shares, multiple voting shares and super voting shares (the

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