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Canopy Growth | 8-K: Sixth Amendment to Arrangement Agreement

SEC announcement ·  Apr 2 05:18
Summary by Futu AI
Canopy Growth Corporation has filed a Current Report on Form 8-K with the U.S. Securities and Exchange Commission, announcing an amendment to a previously disclosed arrangement agreement. The amendment, dated March 29, 2024, involves Canopy Growth, its subsidiary Canopy USA, LLC, and Acreage Holdings, Inc. It extends the Exercise Outside Date for the acquisition of all issued and outstanding Class D subordinate voting shares of Acreage by Canopy USA from March 31, 2024, to April 30, 2024. This acquisition is part of a court-approved plan of arrangement under the Business Corporations Act (British Columbia), with a fixed exchange ratio of 0.45 of a common share of Canopy Growth for each Floating Share held. The completion of this Floating Share Arrangement is contingent upon certain conditions, including the completion of the Canopy Capital Reorganization on or before the new Exercise Outside Date. However, there is no certainty that all conditions will be satisfied or waived, leaving the potential for the acquisition to remain incomplete.
Canopy Growth Corporation has filed a Current Report on Form 8-K with the U.S. Securities and Exchange Commission, announcing an amendment to a previously disclosed arrangement agreement. The amendment, dated March 29, 2024, involves Canopy Growth, its subsidiary Canopy USA, LLC, and Acreage Holdings, Inc. It extends the Exercise Outside Date for the acquisition of all issued and outstanding Class D subordinate voting shares of Acreage by Canopy USA from March 31, 2024, to April 30, 2024. This acquisition is part of a court-approved plan of arrangement under the Business Corporations Act (British Columbia), with a fixed exchange ratio of 0.45 of a common share of Canopy Growth for each Floating Share held. The completion of this Floating Share Arrangement is contingent upon certain conditions, including the completion of the Canopy Capital Reorganization on or before the new Exercise Outside Date. However, there is no certainty that all conditions will be satisfied or waived, leaving the potential for the acquisition to remain incomplete.
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