Cantor Lowers Price Target On Trulieve Post Harvest Merger Projecting Disrupted Near-Term Performance

Trulieve Cannabis Corp (OTCQX: TCNNF) confirmed Friday that it had

completed its previously announced billion-dollar merger with Harvest Health & Recreation Inc. (OTCQX: HRVSF), creating “the largest and most profitable cannabis operation in the U.S.”

The merged company is expected to generate revenue of $1.2 billion in 2021.

Under the deal, Trulieve acquired all of the issued and outstanding subordinate voting shares, multiple voting shares and super-voting shares of Harvest. The holders of Harvest shares obtained 0.1170 of a subordinate voting share of Trulieve for each subordinate voting share of Harvest held.

Trulieve issued a total of 50.9 million shares in connection with the transaction in exchange for all of the issued and outstanding Harvest shares.

The combined company will operate a retail network of 149 dispensaries across 11 states and three strategic regional hubs, with …

Full story available on Benzinga.com

More Cantor Lowers Price Target On Trulieve Post Harvest Merger Projecting Disrupted Near-Term Performance