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OrganiGram Holdings Inc T.OGI

Alternate Symbol(s):  OGI

Organigram Holdings Inc. is focused on producing cannabis for patients and adult-recreational consumers, as well as developing international business partnerships to extend the Company's global footprint. The Company, through its subsidiary, Organigram Inc., is a licensed producer of cannabis, cannabis- derived products and cannabis infused edibles in Canada. It has also developed and acquired a portfolio of legal adult-use recreational cannabis brands, including Edison, Holy Mountain, Big Bag O’ Buds, SHRED, SHRED’ems, Monjour, Laurentian, Tremblant Cannabis and Trailblazer. It specializes in vape and infused pre-roll categories backed by a portfolio of owned brands, including the BOXHOT brand. Its products include pre-milled flower, pre-rolls, weed gummies, shred x vapes, and extracts. It operates facilities in Moncton, New Brunswick and Lac-Superieur, Quebec, with a dedicated edibles manufacturing facility in Winnipeg, Manitoba. Its subsidiaries also include 10870277 Canada Inc.


TSX:OGI - Post by User

Comment by quinlashon Jan 26, 2024 5:55pm
124 Views
Post# 35847968

RE:RE:RE:RE:RE:This is a GIFT at this level of $2.51 !! Bat pays $3.22 !!!

RE:RE:RE:RE:RE:This is a GIFT at this level of $2.51 !! Bat pays $3.22 !!!
1hot-techwoman wrote:
1hot-techwoman wrote:
quinlash wrote: Looking at the original sharecount vs the additional shares to be issued for the BAT deal I have pretty much come to one conclusion as to what this deal actually is, that being a Hostile Takeover.

I am not seeing anything else to justify the move by BAT and the Press Releases lack any other justification for the move by BAT.

JMHO of course so DYODD




Sounds possible Quin? why buy shares in company at $3.22 then have it fall to $2.19?

Really trying to wrap my head around this one....lol

Cheers :)


What am I missing Quin?? :)

Organigram Announces the First Tranche Closing from BAT Investment

Wednesday, January 24, 2024, 6:00 AM ET
 
 TORONTO--(BUSINESS WIRE)--January 24, 2024-- 

Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), (the "Company" or "Organigram"), a leading licensed producer of cannabis, announced today that it has closed the first of three tranches of the previously announced C$124,559,674 follow-on strategic equity investment (the "Investment") by BT DE Investments Inc. (the "Investor"), a wholly owned subsidiary of British American Tobacco plc ("BAT"). Pursuant to the first tranche closing, the Investor acquired 12,893,175 common shares of the Company at a price of C$3.2203 per share (the "Per Share Price") for gross proceeds of C$41,519,891. The remaining 25,786,350 shares subscribed for shall be issued at the Per Share Price in two further equal tranches on or around August 30, 2024 and February 28, 2025.



Sorry Hot, best to DM me if you have a question, just seeing your note now.

All I am saying is that the deal looks like a hostile take-over by BAT.  The current sharecount vs the shares being issued will put BAT within reach of hitting 51% ownership through open market buying without too much effort.  This assuming they didn't have any shares prior to the deal being struck.  Any shares they held prior (or have ready access to) would go against what they would need to buy off the open market to cross over that 50% ownership line.

Another thing that raised a question mark for me was the lack of insider buying post-NR.  If the deal was obviously good and then made public the insiders would be in the clear to buy off the open market.  I haven't looked today at the insider report but last time I did I seen no insiders buying.

Don't take my statements super seriously.  As I said, I hold no position on this and I am only doing a superfical review here.  

If I were an OGI shareholder I would cover my bases and start reviewing BAT to see what I thought of that company and what their vision for the future might look like.  As I noted earlier it would be easy (ish) for them to enter the Cannabis Sector for pre-rolls so that may be where they want to go with Consumers (mostly) trying to get away from smoking cigerettes.

Hope that helps to some degree.  DM me later if you want to chat about it.  Despite how often I post I am actually making "some" effort to get away from posting, SH doesn't strike me as a great forum for real conversations.

Best Regards,

Q






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