Tilray Extends Lockup Period With Major Shareholder

Cannabis company Tilray Inc (NASDAQ: TLRY) said Monday it reached an agreement with its largest stockholder Privateer Holdings to extend a lockup period by two years.

What Happened

Privateer Holdings is Tilray’s largest investor with a 75 million share count, which represents 77 percent of all shares outstanding. The investor and Tilray agreed to extend a lockup on its shares and provide for an orderly release of 75 million Tilray shares held by Privateer to Privateer’s equity holders.

As part of the agreement, a downstream merger of Privateer will …

Full story available on Benzinga.com

More Tilray Extends Lockup Period With Major Shareholder