1 week ago
Organigram Global Inc. (NASDAQ:OGI) shares are up during Wednesday’s premarket session following the announcement of a proposed acquisition of Sanity Group, a German cannabis company.
The strategic move aims to establish Organigram as a global pure-play cannabis company with significant positions in major markets.
Deal Highlights
Organigram will pay Sanity shareholders an upfront consideration of 113.4 million euros (around $134 million), consisting of 80 million euros in cash and 33.4 million euros in Organigram shares.
In addition, Sanity shareholders will be entitled to receive up to 113.8 million euros as earnout consideration, with the first 20 million euros in cash and up to 93.8 million euros in Organigram shares.
British American Tobacco plc (NYSE:BTI) is a shareholder in both Organigram and Sanity and has opted to ...
