RE:Tilray vote gets extended
The votes may not yet be available but I would not assume Tilray shareholders are not in favour of the deal. It is likely that a lot of them have not voted (could be apathy or some report not receiving voting materials). This is important because of the way Tilray has structured the voting process. If you check pages 8 and 9 of the voting materials you will see the 4 proposals tilray is voting on and the approvals required for each. Notice how a non-vote will count as a 'No' for The Charter Amendment, and approvals of both the Charter Amendment Proposal and the Share Issuance Proposal are required for the merger. Tilray has now waived the requirement for the Charter Amendment Proposal just in case they cannot get enough shareholders to vote on it (remember if they don't vote their vote still counts as a no on that one). Tilray prepared for this scenario with the Adjournment Proposal, which states that they can "approve the adjournment of the Tilray Meeting to a later date or dates, if necessary or appropriate, to solicit additional proxies in the event there are not sufficient votes at the time of the Tilray Meeting to approve the Tilray Charter Amendment Proposal or the Tilray Share Issuance Proposal (the Tilray Adjournment Proposal)." If you don't have the materials you can also check this information under the FAQs here: https://aphriatilraytogether.com/#Faqs This merger will in all likelihood complete. Tilray management will ensure that. I agree though that it didn't have to appear as dishevelled and unorganized as this on Tilray's part.