SNDL Completes Acquisition of Nova

MT Newswires Live

2024/10/21

SNDL (SNDL) said Monday it completed its previously announced plan of arrangement to acquire shares of Nova that it does not already own, or about 34.8% of the outstanding Nova shares, to privatize the company.

Under the arrangement, Nova shareholders were allowed to choose 1.75 Canadian dollars ($1.26) in cash or 0.58 of a common SNDL share for each Nova share held.

SNDL said it will issue 159,792 SNDL shares and pay about CA$37.3 million for the Nova shares.

Following the transaction, SNDL said Nova shares are expected to be delisted from the OTC Markets and the Toronto Stock Exchange.

Price: 1.99, Change: -0.03, Percent Change: -1.73

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