HEXO Equities Warrants Exp 2 Apr 2024 T.HEXO.W.A

Press Release: HEXO Acquisition by Tilray

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The merger of HEXO into Tilray is being done on a conversion ratio PER SHARE, it's outlined in the press release.  Assuming the merger is voted through then the new bigger version of Tilray will have a much larger product portfolio and the company will see some level of savings through effeciencies, reduced overhead etc.  We will not know exactly what that will look like until the QTR reports come out where these incremental revenue numbers will be reported and we have a clear view of cost savings.

HEXO Corp. Announces Acquisition by Tilray Brands

April 10, 2023 04:01 PM Eastern Daylight Time
 

GATINEAU, Qubec--(BUSINESS WIRE)--HEXO Corp. (TSX: HEXO; NASDAQ: HEXO) (“HEXO” or the “Company”) announces that it has entered into a definitive arrangement agreement (the “Arrangement Agreement”) with Tilray Brands, Inc. (“Tilray”) for a transaction whereby Tilray will acquire all of the issued and outstanding common shares of the Company (the “HEXO Shares”), subject to approval by the holders of HEXO Shares (“HEXO Shareholders”) and the satisfaction or waiver of other closing conditions (the “Arrangement”). Under the terms of the Arrangement Agreement, HEXO Shareholders will receive 0.4352 of a share of Tilray common stock (“Tilray Shares”) in exchange for each HEXO Share held (the “Exchange Ratio”), which implies a purchase price of US$1.25 per HEXO Share based on the volume weighted average price of Tilray Shares on the Nasdaq Stock Market (“Nasdaq”) for the 60-day period ended on April 5, 2023. Warrants and other convertible securities of HEXO will be adjusted in accordance with their terms such that the holders thereof will be entitled to receive, upon exercise or vesting thereof, Tilray Shares, after adjustments to reflect the Arrangement and account for the Exchange Ratio.

Link to Press Release
https://www.businesswire.com/news/home/20230410005360/en/HEXO-Corp.-Announces-Acquisition-by-Tilray-Brands