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CODI

Compass Diversified

$15.68

-0.14 (-0.88%)

, TLRY

Tilray

$77.02

0.56 (0.73%)

07:09
02/20/19
02/20
07:09
02/20/19
07:09

Compass Diversified to sell Manitoba Harvest to Tilray for up to C$419M

Compass Diversified (CODI) announced that it has entered into a definitive agreement to sell its majority owned subsidiary, FHF Holdings, or Manitoba Harvest, to Tilray (TLRY). Under the terms of the agreement, Manitoba Harvest will be sold to Tilray for an aggregate sales price of up to C$419M. The company expects to realize a sizable gain on the sale and intends to use the net proceeds to repay outstanding debt under the company's revolving credit facility. Under the terms of the agreement, shareholders of Manitoba Harvest, including CODI, will receive up to C$419M, of which C$277.5M is payable at closing, comprised of C$150M in cash and C$127.5M in Tilray Shares. Six months after closing, Manitoba Harvest shareholders, including CODI, will receive C$92.5M, comprised of C$50M in cash and C$42.5M in Tilray Shares. Manitoba Harvest shareholders, including CODI, will receive an additional C$49M in Tilray Shares upon Manitoba Harvest achieving certain performance milestones in 2019, such amount to be reduced to the extent that some or all of the milestones are not achieved. The transaction will be subject to normal post-closing adjustments. The closing of this transaction is subject to customary terms and conditions and court approval. The transaction will be completed by plan of arrangement under the Business Corporations Act of British Columbia. The transaction is expected to close within the next 30 days.

CODI

Compass Diversified

$15.68

-0.14 (-0.88%)

TLRY

Tilray

$77.02

0.56 (0.73%)

CODI Compass Diversified
$15.68

-0.14 (-0.88%)

TLRY Tilray
$77.02

0.56 (0.73%)

01/09/19
PIPR
01/09/19
INITIATION
Target $90
PIPR
Overweight
Tilray initiated with an Overweight at Piper Jaffray
Piper Jaffray analyst Michael Lavery initiated coverage of Tilray with an Overweight rating and $90 price target. The analyst expects "strong" industry growth long-term, and believes Tilray is well positioned to be one of several likely winners given its relationships in medical, in the U.S., and in beverages. Lavery consider the company's initial public offering lock-up expiry to be a near-term risk, especially with 77% insider ownership, but his 12-month Overweight view is based on its fundamental outlook. He pegs Tilray's market opportunity at $15B-$50B in the near-term, and potentially $250B-$500B over the longer term.
01/09/19
PIPR
01/09/19
INITIATION
PIPR
Overweight
Piper Jaffray rolls out bullish research coverage on Canopy Growth, Tilray
Piper Jaffray analyst Michael Lavery initiated coverage of Canopy Growth (CGC) and Tilray (TLRY) with Overweight ratings and price targets of $40 and $90, respectively. The analyst believes the global Cannabis market has the potential to reach $250B-$500B over the long term and $15B-$50B in the near term. The industry's long-term growth opportunities are significant, both from transitioning illicit trade to legal sales and from transitioning sales in health and wellness categories to cannabidiol-infused products, Lavery tells investors in a research note. The analyst expects recreational use to source from illicit trade and alcohol, medical use to source from other medical treatments, and non-psychoactive CBD-infused cannabis products to source users from food, beverage, and personal care categories. Over 25 countries have legal marijuana use today, he points out. Lavery believes federal legalization in the U.S. could potentially come in the next five years. Further, the analyst expects capital flow into the sector will likely continue.
01/16/19
PIPR
01/16/19
NO CHANGE
Target $90
PIPR
Overweight
Piper confident in Tilray strategy after management meeting
After meeting with management at the ICR conference, Piper Jaffray analyst Michael Lavery remains confident in Tilray's long-term strategy. Global regulatory momentum favoring legalization of medical and recreational cannabis products is continuing, and Tilray looks well positioned from a brand perspective with its latest partnership with Authentic Brands Group, which includes many readily recognizable brands, Lavery tells investors in a research note. The analyst expects strong industry growth in the long-term and we believes Tilray is well positioned to be one of several likely winners. He keeps an Overweight rating on the shares.
02/14/19
COWN
02/14/19
NO CHANGE
COWN
SAFE Act should pass House, Senate path less clear, says Cowen
After the House Financial Services financial institutions subcommittee held a hearing on legislation that would permit banks to provide service to cannabis companies that are in compliance with state law, Cowen analyst Jaret Seiberg said he believes the hearing went well enough for the SAFE Act to pass the committee and the full House later this year. However, the path forward in the Senate is "less clear," said Seiberg. The analyst, whose base call remains that the House passes the SAFE Act and other cannabis laws and that the Senate then pushes through a package before the end of the 116th Congress, expects "positive news by the end of 2020 for cannabis companies," he tells investors. Publicly traded companies in the cannabis space include Aphria (APHA), Aurora Cannabis (ACB), CV Sciences (CVSI), CannTrust Holdings (CNTTF), Canopy Growth (CGC), Cronos Group (CRON), General Cannabis (CANN), India Globalization Capital (IGC), MediPharm Labs (MLCPF) and Tilray (TLRY).

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UPS

UPS

$120.71

1.61 (1.35%)

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DIS

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BA

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MCF

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GLD

SPDR Gold Shares

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Vaxart

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AAPL

Apple

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-3.22 (-1.46%)

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IIVI

II-VI

$39.05

-0.5 (-1.26%)

, CPE

Callon Petroleum

$4.53

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CPE

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$4.53

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PSMT

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FNSR

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$24.31

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NVR

NVR

$3,632.55

-30.45 (-0.83%)

, JEF

Jefferies Financial Group

$19.47

-0.19 (-0.97%)

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NVR to replace Jefferies Financial Group in the S&P 500 at open on September 26 »

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$3,632.55

-30.45 (-0.83%)

JEF

Jefferies Financial Group

$19.47

-0.19 (-0.97%)

SPB

Spectrum Brands

$49.66

-1.395 (-2.73%)

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  • 16

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NOC

Northrop Grumman

$368.25

-7.45 (-1.98%)

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Northrop Grumman subsidiary awarded $1.12B Missile Defense Agency contract »

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PSMT

PriceSmart

$60.29

-0.39 (-0.64%)

, FNSR

Finisar

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Breaking Hot Stocks news story on PriceSmart, Finisar »

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FNSR

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  • 30

    Oct

IIVI

II-VI

$39.05

-0.5 (-1.26%)

, CPE

Callon Petroleum

$4.53

-0.015 (-0.33%)

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NVR

NVR

$3,632.55

-30.45 (-0.83%)

17:20
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NHYDY

Norsk Hydro

$0.00

(0.00%)

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Norsk Hydro discloses federal court in Brazil lifts embargo on Alunortes »

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RESN

Resonant

$3.05

0.02 (0.66%)

17:03
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Resonant participates in a conference call with Loop Capital »

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NINE

Nine Energy Services

$6.73

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17:02
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ATOM

Atomera

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Atomera participates in a conference call with Loop Capital »

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MPWR

Monolithic Power

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Conference/Events
Monolithic Power participates in a conference call with Loop Capital »

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AAPL

Apple

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IDA

IDACORP

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MO

Altria Group

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EADSY

Airbus

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, AL

Air Lease

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  • 13

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Options
Preliminary option volume of 23.5M today »

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PSX

Phillips 66

$103.26

0.14 (0.14%)

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POST

Post Holdings

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