SNDL Announces Agreement To Acquire The Valens Company For ~$138M Or $1.26/Share

Author: Benzinga Newsdesk | August 22, 2022 09:32am

nder the terms of the Agreement, Valens' shareholders will receive, for each Valens Share, 0.3334 of a common share of SNDL (the "Offer Exchange Ratio"). Based on the August 19, 2022 close of the SNDL shares on the Nasdaq Capital Market exchange (the "Nasdaq"), the consideration represents an implied value of $1.26 per Valens Share (the "Implied Offer Price"), for total consideration of approximately $138 million. The Implied Offer Price represents a premium of 10% based on a trailing 30-day volume-weighted average price ("VWAP") of the Valens Shares, on the Toronto Stock Exchange (the "TSX") up to August 19, 2022.For more information on the announcement, an investor presentation can be found at www.sndl.com and www.thevalenscompany.com.

Posted In: SNDL VLNS