Greenlane: Canaccord’s Take On The KushCo Merger On March 31st, Greenlane Holdings announced their fourth quarter and full-year financial results. Additionally, they announced that they would be merging with KushCo Holdings to create “the leading ancillary cannabis company and house of brands.”
For the financial results, the company announced full-year revenue of $138.3 million, down from the $185 million they made in 2019. The company tries to make the news release as great sounding as possible, but with no luck as they highlight odd segments to intentionally show growth.
Onto their merger with KushCo, the company is paying a premium of ~6% on KushCo shares but will barely retain control over the resulting company with a 50.1% ownership and KushCho owning 49.9% of the company. The company announced that they expect $15-20 million in cost synergies within the first two years.
https://thedeepdive.ca/greenlane-canaccords-take-on-the-kushco-merger/