Tilray Brands Acquires HEXO Corp.
April 10, 2023
Tilray Brands, Inc. will acquire all issued and outstanding common shares of HEXO Corp. under a court-approved plan of arrangement, with HEXO shareholders receiving 0.4352 Tilray shares per HEXO share (implying US$1.25 per HEXO share based on a 60-day VWAP). The deal, announced alongside a waiver and amendment agreement to address HEXO's near-term covenant and liquidity issues, is intended to combine HEXO's cultivation and brand assets with Tilray's larger cannabis and CPG platform.
- Buyers
- Tilray Brands, Inc.
- Targets
- HEXO Corp.
- Industry
- Consumer Products
- Location
- Quebec, Canada
- Transaction Type
- Buyout
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