Canopy Growth extends deadline for Acreage acquisition by Canopy USA to May 31, 2023

Canopy Growth Corp

Amendment extends Exercise Outside Date for Floating Share Arrangement from March 31 to May 31, 2023.
Floating Share Arrangement involves Canopy USA acquiring all Class D subordinate voting shares of Acreage.
Exchange ratio fixed at 0.45 Canopy Growth common share per Acreage Floating Share.
Completion subject to conditions including Canopy Capital Reorganization; no assurance of closing.
Amendment entered into by Canopy Growth, Canopy USA, and Acreage on March 17, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Canopy Growth Corp amended First Amendment to Floating Share Arrangement Agreement with Canopy USA, LLC; Acreage Holdings, Inc. valued at Amendment to Floating Share Arrangement Agreement to extend Exercise Outside Date from March 31, 202 (effective 2023-03-17).

Action: amendment
Agreement: merger
Counterparty: Canopy USA, LLC; Acreage Holdings, Inc.
Value: Amendment to Floating Share Arrangement Agreement to extend Exercise Outside Date from March 31, 202
Effective: 2023-03-17

Exact text from the filing

On March 17, 2023, the Company, Canopy USA and Acreage entered into a first amendment to the Floating Share Arrangement Agreement (the “ Amendment ”). Pursuant to the terms of the Amendment, the Company, Canopy USA, and Acreage agreed to amend the Exercise Outside Date (as defined in the Floating Share Arrangement Agreement) from March 31, 2023 to May 31, 2023.

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Source: SEC EDGAR

accession 0001193125-23-077328

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