On Monday,
Tilray, Inc. (NASDAQ:TLRY) and
Aphria, Inc. (NASDAQ:APHA) closed their merger after months of negotiations, creating a company with a combined market cap of $3.3 billion. Benzinga spoke with
Irwin Simon, CEO of the new combined company.
Check out the video below:
Following the merger, Jefferies upgraded the rating for Tilray from Underperform to Buy, while raising the price target from $4.77 to $23.
Jazz Pharmaceuticals (NASDAQ:JAZZ) finalized its acquisition of
GW Pharmaceuticals plc. (NASDAQ:GWPH), the producer of the FDA‑approved prescription cannabidiol drug Epidiolex, for $7.2 billion or $6.7 billion net of GW Pharma s cash.
Meanwhile,
Ascend Wellness Holdings (CSE:AAWH) started trading on the Canadian Securities exchange following a raise of approximately $80 million through an initial public offering of roughly 10 million shares of its Class A common stock at $8 per share.
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Green Thumb Enters Va. With $80M Dharma Pharma Purchase
Law360 (May 3, 2021, 8:16 PM EDT) With two months before marijuana becomes fully legal in Virginia, multistate cannabis operator Green Thumb Industries Inc. announced Monday that it would enter the commonwealth with the $80 million purchase of medical cannabis company Dharma Pharmaceuticals LLC.
As part of the deal, Green Thumb will acquire Abingdon-based Dharma for 80% stock and 20% cash, a company spokesperson said. The acquisition will add a Virginia dispensary and production facility to Green Thumb s portfolio, as well as one of the state s five existing vertically integrated medical cannabis licenses. We look forward to serving Virginia s current medical patients, and future adult-use consumers, while supporting.