Deal Details Under the deal terms, Aphria shareholders will obtain 0.8381 shares of Tilray while owning 62% of the new equity. However, the arbitrage opportunity has since come down greatly. Overhead. Under the terms, Aphria shareholders receive 0.8381 of a Tilray share for each common share of Aphria. People may receive compensation for some links to products and services on this website. Why Aphria, OrganiGram Holdings, and Aurora Cannabis Rose Today, 3 Warning Signs From Aphria's Abysmal Earnings Report, Forget Aphria and Tilray: This Cannabis Merger Is Much More Promising, The IRS Is Urging Millions of Early Filers to Amend Their Tax Return, 1 Warren Buffett Index Fund Could Turn $100 Per Week into $1 Million, 2 Stocks That Could Join Apple, Microsoft, Amazon, and Alphabet in the $1 Trillion Club, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. In this video from Motley Fool Live from Dec. 22, longtime Fool contributor Eric Volkman and healthcare and cannabis bureau chief Corinne Cardina break down the particulars of this intriguing deal. If the deal goes ahead, the two companies will operate under the Tilray brand with Aphrias current CEO, IrwinD.Simon, leading the new entity. However, there has been a sell-off since then. Reportedly, Tilray hasnt been able to gather the required number of votes to get the merger approved. At the same time, as more U.S. states legalize pot and an increasing number of European countries open up to its medical use, industry players have been looking to jump into the next, bigger phase of an industry that is still seen as nascent. The combined company is expected to have a strong, flexible balance sheet, cash balance and access to capital giving it the ability to accelerate growth and deliver attractive returns for stockholders, the companies said. What's happening with the TLRY and APHA merger? Last week, Aphria stockholders approved the deal overwhelmingly. After all that, Aphria is going to own something like 62, 63. In reality, this is Aphria taking over Tilray. In terms of leadership for the combined company, Aphrias current CEO and Chairman, Irwin Simon will work in the same capacity. Type a symbol or company name. Written by Related News:good natured Products Revenue Increases 65% In FY2020The Green Organic Dutchman Gives Update On OperationsAphria Shareholders Approve Tilray Merger. Personally, Id rather see Aphria go it alone or look to the unnamed company that too approached Aphria about a merger last year. The move was widely expected after Aphria shareholders voted in favor of a deal by a wide margin, with a total of 99.38% of shares voted approving it on April 14. Both stocks will, assuming the merger closes, end up in the same place. In a research note, Bottomley told investorsthat while he believesthe companys3Q "signals a number of red flags" that could impact most cannabis operators, he is downgrading Aphriaas the stockis trading at 97% of the impliedtransactionprice with Tilray. But again relatively speaking, they're going to be a big player in marijuana, they're going to be hard to ignore, they're going to be the largest Canadian marijuana company by far. TLRY stock was at $7.87 on Dec. 15, the day before the merger announcement. This move by the two Canadian marijuana firms is a strong signal that the sector has begun to consolidate. So basically we can consider it a reverse merger. I think that's a good move because I think Tilray has a slightly stronger brand name and recognition. On Monday, Tilray's shares closed 7.2% lower, against the 0.3% rise of the S&P 500 index. Meanwhile, some of the claims being made about the merger arent quite on point. TLRY closed Wednesday at $25.29. And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution. Action Alerts PLUS is a registered trademark of TheStreet, Inc. Take Charge of Your Money During our April Sale! For Tilray, it will provide a much-needed boost to their balance sheet after a rocky year. The first quarter of 2021 has come to an end and it was certainly one to remember for the top cannabis stocks in the market. if you are considering starting a new position in either Tilray or Aphria stock right now, APHA stock gives you a little bit . For one, this will make. The. All Rights Reserved. However, for the merger to be confirmed, it would have to be approved by TLRY stockholders. The cost savings will also lead to considerable improvements to the bottom line for the new company. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. The merger between Aphria and Tilray makes perfect sense. For Aphria and Tilray, the deal positions the companies to take advantage of potential U.S. federal legalization as well as the prospect of more legalization in Europe. The Tilray and Aphria merger has received regulatory approvals and APHA stockholders have also confirmed the merger. Aphria(APHA)andTilray(TLRY)first announcedtheir proposeddealin December of last year. The Cannabis ETF Interestingly, Sweetwater also produces hemp-infused beverages. Combined, Tilray and Aphria will make $874 million in revenue compared to $842 million by runner-up Curaleaf (OTCMKTS:CURLF). Last week, BofA Securities analyst Heather Balsky initiated coverage of the stock with a Buy rating and a $23.00 price target (26.2% upside potential). Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Under the terms of the agreement, Aphria will become a wholly-owned subsidiary of Tilray. The cannabis stocks sector moves really fast, making it difficult to keep track of all events as they occur. They have lots of growing assets, they are active in every consumable product category including the so-called Cannabis 2.0 products in Canada which are derivatives like extracts, there's also beverages, marijuana-infused beverages. Thats not cheap, either. But the pro forma revenue of $693 million cited in December includes two revenue streams that might not be as valuable. Will More Tobacco Giants Invest in Marijuana Stocks? Aphria stockholders will get 0.8381 Tilray shares for each APHA share that they hold. Type a symbol or company name. Some investors might want to wait to see if the merger goes through. quotes delayed at least 15 minutes, all others at least 20 minutes. To make the world smarter, happier, and richer. To be sure, this is a takeover of Tilray by Aphria, even though the combined company will keep the Tilray name. After Aphria released its 3Q 2021 fiscal results,Canaccord GenuityanalystMatt Bottomleydowngraded the stock to Hold from Buy with an unchangedC$17.50price target (1.07% downside potential). Adjusted EBITDA did rise modestly but thanks to a $4.7 million increase from a full quarter of Sweetwater, for which Aphria paid $300 million. Anheuser-Busch CEO on the Bud Light backlash: We never intended to be part of a discussion that divides people, Mark Zuckerbergs total 2022 pay rose because of the increased use of private aircraft, Elon Musk tells Tucker Carlson hell create TruthGPT chatbot to counter AIs liberal bias, Court tosses Berkeleys first-in-nation ban on natural gas in new construction. Aphria said that the reverse-acquisition of Tilray was approved by 99.38% of the shares represented at its shareholders' meeting. Create your Watchlist to save your favorite quotes on Nasdaq.com. That business has gross margins of just 13% and not all of the revenue comes from cannabis. The merger will also generally offer the new company access to capital and improved funding. People may receive compensation for some links to products and services on this website. Again, the stock still is up 90% so far this year. Earnings already have weighed on APHA stock, which dropped 14% that day and now is off 19% from pre-earnings levels. Its gained a whopping 90% so far in 2021. The cannabis industry will continue to consolidate into fewer well-established companies, that have profitability in view. Aphria shares closed down 0.5% and are also up 122% year-to-date. 5 2021, Published 9:16 a.m. First, Aphria has a distribution business in Germany that accounted for more than half of revenue in the third quarter. Eric Volkman has no position in any of the stocks mentioned. Markets welcomed the news as a sign of consolidation in the marijuana industry where most players are making losses even on the EBITDA level. Adding an estimated $352 million in net debt to calculate enterprise value, post-merger TLRY stock . Once the merger is complete, Aphria shareholders will receive 0.8381 Tilray shares for each Aphria share they own. However, the company moved the meeting to April 30. SPX, Tilrays exposure to the European medical marijuana industry would complement Aphria. However, given the fragmented nature of the marijuana industry, I dont see any real regulatory hurdle for the merger. For a start, this merger is expected to create a combined equity value of $3.9 billion. There will also be significant. Nasdaq Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. The combined company also will be a leader in cannabis-infused drinks. Is there still an arbitrage opportunity available before the merger is complete? In using this website you accept the terms of service and are responsible for complying with all laws and regulations, including applicable local laws. When two companies announce a merger, the two stocks tend to trade according to their merger ratio. With Aphria profitable on an EBITDA (earnings before interest, taxes, depreciation and amortization) basis and Tilray hitting that bogey in Q4, the reduced costs should get the combined company into net profitability and positive free cash flow. That firm generated revenue of $67 million in 2019. Visit a quote page and your recently viewed tickers will be displayed here. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. That admittedly is cheap by cannabis standards. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Relative to FY2021 (ending March) consensus estimates, Canopy Growth (NASDAQ:CGC) trades at about 20x EV/revenue, and Sundial Growers (NASDAQ:SNDL) an even higher multiple. Your access is restricted because of your age. Copyright 2023 Market Realist. The steep fall in TLRY stock from the peaks ensured that the arbitrage evaporated. Whats happening with the Tilray and Aphria merger? Tilray ( TLRY) - Get Free Report and Aphria ( APHA) - Get Free Report said Monday they had completed their merger, creating the world's largest cannabis company by revenue . quotes delayed at least 15 minutes, all others at least 20 minutes. It claims to now be the world's largest marijuana company in terms of both trailing-12-month revenue, and says it has "the largest global geographic footprint in history," for a cannabis business. 1125 N. Charles St, Baltimore, MD 21201. Then the company deactivated his account. On December 16th, Aphria (TSX: APHA) (NASDAQ: APHA) and Tilray (NASDAQ: TLRY) announced a pending stock-based merger. A worker smiles as she shows cannabis plants at the Tilray factory in Cantanhede, Portugal April . TheCombined Company will be increasingly well positioned to deliver a sustainable attractive return for our combined shareholder base." This merger between these two cannabis firms will see Tilray become the biggest player in the sector globally. The Motley Fool has a disclosure policy. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. +2.93% After Tilray's ( TLRY) shareholders voted in favor of the proposed merger Aphria ( APHA) last Friday, the two cannabis companies announced today the completion of the transaction. Aphria shareholders voted in favor of the proposed merger with rival Tilray, which will create the world's largest cannabis company by revenue. Uber reversed its decision and reactivated the driver after being contacted by MarketWatch. Article printed from InvestorPlace Media, https://investorplace.com/2021/04/apha-stock-hard-pass-ahead-tilray-merger/. Aphria has a company called CC Pharma based in Germany, which is very active and quite strong on the German medical marijuana market. Part of the cause of the sell-off is that APHA got some draft from the Reddit rallies, even if it didnt move as high as did Tilray. Type a symbol or company name. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 2023 InvestorPlace Media, LLC. TipRanks->. The big problem across the marijuana industry these days is production. There's a lot of production now that's out there, it's hard to make money on them simply because there's so much weed being grown. Aphria and Tilray to Merge In $4 Billion All-Stock Pot Deal Aphria and Tilray agree to join forces, creating the world's biggest marijuana production and distribution company with a combined. You must be 21 years or older to view and purchase products featured on this site. Key details about the Aphria-Tilray merger. TipRanks->. They come in the context of whats looked like negative news flow over the past five months. Net cannabis revenue plunged by nearly one-fourth quarter-over-quarter. Marijuana stocks experienced a surge in price on Monday after Governor Andrew Cuomo confirmed that his state was very close to lega STONERS ROTATION 2023 | A VESSEL CREATIVE COMPANY. Corinne Cardina: Let's talk about a big splashy deal. Aphria's shareholders have already voted and approved the merger on April 15. Valuation is acceptable, but not compelling. Cannabis legalization is sweeping over North America 15states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018. The delayed merger vote and the new quorum requirements have raised concerns. Since the merger between Aphria ( APHA) and Tilray ( TLRY) was announced on December 16, 2020, the two stocks have traded apart and resulted in a somewhat bizarre situation. There will be a chance to buy TLRY cheaper down the road. Cannabis stocks traded up this week, following news of the merger between Aphria (NASDAQ: APHA) and Tilray (NASDAQ: TLRY ). Talking of marijuana stocks, they have started to look very overvalued at their peaks even if we discount all of the positives. TipRanks' multi-award winning platform ranks financial experts based on measured performance and the accuracy of their predictions so investors know who to trust when making investment decisions. But in April 2021, Im far less optimistic. All products available for purchase through this website are intended for hemp-derived products with less than 0.3% concentration of THC by dry weight, as well as other legal herbs. The company says that the "new Tilray" will have synergies of over 100. Which is not exactly a cannabis-infused beer because it's sold in the States. These businesses have to start growing at some point. Even with a sharp pullback of late, APHA has nearly quadrupled from where it sat in early March of last year. Current share. Stephanie Bedard-Chateauneuf for Yet ownership of the combined company via TLRY was at one point valued more than 30% higher than it was via APHA. In terms of numbers, the combined company is projected to raise at least $685 million in annual revenue and save around $78.4 million in costs within two years. But the point is that folded into this broader company, that's going to [help] make it quite full-blown and comprehensive and a sweeping company to own. TipRanks' multi-award winning platform ranks financial experts based on measured performance and the accuracy of their predictions so investors know who to trust when making investment decisions. Tilray shares closed Friday down 1.78%, but have gained 122% in the year to date. . Aphria ( APHA ) and . THCX, 13 min read. Why is it delayed and has it been confirmed? On the date of publication, Vince Martin did not have (either directly or indirectly) any positions in the securities mentioned in this article. The combination of Aphria and Tilray is expected to generate roughly $81 million in annual pre-tax cost savings within 18 months of the transaction's completion. You must be 21 years of age or older to view the page. Thanks to the crazy Reddit-driven rallies in February, the spread between TLRY and APHA ballooned. Thats true, technically. Investors in marijuana stocks will also see this as a positive sign for the industry. 1125 N. Charles St, Baltimore, MD 21201. Here's The Marijuana Stock You've Been Waiting ForA little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom. Offers may be subject to change without notice. The news comes one business day after shareholders of the previous version of Tilray voted in favor of the deal. Both stocks beat the rise of the S&P 500 on Tuesday, with Tilray closing 6.8% higher and Aphria rising by almost 3.1%. Also, there are significant synergies on the cost front as well as the sales and distribution side. Aphria and Tilray Join Forces in Cannabis-Infused Mega Merger. But yeah, the combined company is going to be called Tilray, they claim they are the largest global cannabis company in the world but that's a little bit fudging things. Tilray changed its bylaws in April to reduce its shareholder vote quorum to one-third of the voting power of the outstanding shares entitled to vote to approve the deal, instead of a majority of the voting power of the outstanding shares. Check your inbox or spam folder to confirm your subscription. On March 1, APHA stock closed at $18.76, while TLRY stock closed at $25.56. Another nice thing about this merger that shareholders in both companies should be happy about, it's a comprehensive company [together]. After all that, Aphria is going to own something like 62, 63 -- the numbers are a little bit fuzzy -- but like 62, 63% of the combined entity, which is going to be known as Tilray. Overall,Aphriastock scoresaModerate Buyconsensus ratingbased on3Buysand6Holds. But Aphria, they bought not long ago SweetWater Brewing. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. That move was also expected to make it easier for the deal to be approved. No wonder both the stocks rallied after the merger was announced. The new company will trade under Tilrays ticker on the Nasdaq, and Aphria shareholders will own 62% of Tilrays stock under the terms of the transaction, which was characterized as a reverse acquisition of Tilray, the companies said. Aphria's CEO Irwin Simon is taking over that role with the reconstituted Tilray, and has also become the chairman of the new company's board of directors. Regardless, the merger should save a lot of money. In December 2020, Tilray (TLRY) and Aphria (APHA) announced a merger that would create the worlds largest marijuana company. Essentially Aphria is acquiring Tilray because after the smoke clears and all the shares are exchanged, it's an all-stock transaction. Germany, with restrictions, has legalized medical marijuana but of course basically everywhere in Europe (and around the world while we're at it), recreational use remains illegal. On December 16, 2020, Tilray (TLRY) and Aphria (APHA) announced a merger that would create the largest marijuana company globally. Volkman: Yeah. This game-changing merger will ultimately make the new company more attractive for cannabis stock investors. Probably tells you something about Aphria too. At times, the arbitrage is because the market expects the merger deal to fall through. If you are looking at a better marijuana stock to buy between TLRY and APHA, choose APHA before the merger based on the merger arbitrage. Cardina: Can you tell us what investors need to know? But CC Pharma actually in the most recently reported Aphria quarter, it was responsible for more than half of Aphria's sales, which tells you something about that market. Over the past 12 months, Aphria lost $163 million. The weed stock industry continues to shape up positively as newly legalized states open up more expansion opportunities. The pro-form enterprise value of the company is listed at $3.9 billion. You can go short on Tilray stock and long on Aphria stock to benefit from the merger arbitrage. Mark Hake writes about personal finance on mrhake.medium.com and runs the Total Yield Value Guidewhich you can reviewhere. As such, these devices are not designed to cure or treat disease. Using pro forma Adjusted EBITDA, even accounting for the cost savings, the combined companys multiple sits over 50x. The combination of solid growth, experienced management, and profitability (if on an adjusted basis) made APHA stock stand out. We use cookies to improve your experience. Then and now, Aphria's (now Tilray's) leadership has touted many benefits of the two companies coming together. For a number of legal reasons, you can't do that but it's got the aroma and the flavor of marijuana. As I noted previously, as a standalone company, APHA looks better placed compared to TLRY given its better financials and lower comparative valuation. Eventually, on the merger date, APHA stocks would get converted to TLRY stocks based on the merger ratio. Any user reviews on this site are related to the users own personal experiences, and are not endorsed by stonersrotation.com. Invest better with The Motley Fool. Ive long been a skeptic toward Tilray, whose growth and revenue base hardly stand out among Canadian players. On Monday, Tilray. (See Aphriastock analysis on TipRanks). Nasdaq As of Wednesday, 30th December 2020, market capitalization for Tilray and Aphria was at $1.31 billion and $2.195 billion respectively. Tilray Inc. TLRY, -4.35% shareholders voted to approve the Canadian cannabis company's proposed merger with Aphria Inc. apha ca:apha at a special meeting on Friday, according to media reports . Through Tuesdays close, Tilray shares have fallen 54% in 2020, while Aphrias have risen 56%. TipRanks is the most comprehensive data set of sell side analysts and hedge fund managers. It would also see the new company instantly offer real competition to established players like Canopy Growth and Aurora Cannabis both in North America and globally. Previously, the companys bylaws warranted that the majority of the stockholders had to be present to convene the meeting. Interestingly, it also amended the bylaws and said that the quorum requirement for the stockholder meeting would be one-third of the voting power. That in turn suggests that each Aphria. Simply click here to get the full story now. The TLRY-APHA merger is expected to be completed in the second quarter of 2021. A deviation in stock prices can lead to merger arbitrage. The company will continue to trade on the Nasdaq Global Select Exchange under the symbol "TLRY" and will commence trading on the Toronto Stock Exchange under the symbol "TLRY" on May 5. The average analystprice target of C$22.05impliesupsidepotential of about24.6%to current levels. OrganiGram Holdings 2Q Revenue Misses Estimates; Shares Plunge 10%, Aphrias 3Q Sales and EPS Miss Estimates; Shares Plunge 14%, Shaw Communications 2Q EPS and Revenue Beat Estimates, Do Not Sell My Personal Information (CA Residents Only). shareholders voted to approve the Canadian cannabis company's proposed merger with Aphria Inc. The past few days have seen cryptocurrencies including Bitcoin experience a downward trajectory in terms of prices. Meanwhile, Tilray had $271 million loss. However, since then, both TLRY and APHA have fallen sharply amid the sell-off in marijuana stocks. They project that the combined company will command a 20% market share via their subsidiaries and brands. The all-stock deal that will create a new powerhouse in the pot industry, with an equity value of about C$4.8 billion ($3.8 billion). Why Is Bed Bath & Beyond (BBBY) Stock Up 15% Today? They're going by trailing 12-month revenue and I don't know if going forward that's sustainable. Aphria (@aphriainc) said 99.38% of its shareholders voted to approve its merger with Tilray (@tilray). The products featured have not been directly evaluated by the US Food and Drug Administration (FDA). As these markets begin to re-open, Tilray is poised to strike and transform the industry with our highly scalable operational footprint, a curated portfolio of diverse medical and adult-use cannabis brands and products, a multi-continent distribution network, and a robust capital structure to fund our global expansion strategy and deliver sustained profitability and long-term value for our stakeholders.". What's Next for Tilray Now That Its Merger With Aphria Is Complete? TipRanks is the most comprehensive data set of sell side analysts and hedge fund managers. All rights reserved. Against pro forma revenue of $693 million, what will be Tilray looks cheap by sector standards. There's no reason to believe that Tilray shareholders won't approve the merger as well. The two Canadian cannabis giants had been in talks . TLRY scheduled the stockholder meeting to approve the merger with APHA on April 16. The highly anticipated merger between Aphria (TSX:APHA)(NASDAQ:APHA) and Tilray (NASDAQ:TLRY) is set to close in Q2.Insiders anticipate that the merged entity could exist as soon as April. Management might be correct. The merger between TLRY and APHA is a reverse merger where Tilray, which is the smaller company between the two, would acquire APHA. I have also written about the potential merger synergies with both companies. All Rights Reserved. Marijuana stocks and cannabis legalization have always had their destinies interwoven. SweetWater Brewing makes a product called 420 Strain, 420 of course being not-so-secret code for marijuana. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. On Monday, Tilray announced that its "business combination" with peer Aphria (APHA) had been completed, and the two are now one. These symbols will be available throughout the site during your session. Read on to find out. Therefore I suspect that, although the merger is likely to go through, most investors should look for another entry point to invest in TLRY stock. Dec. 15, the day before the merger approved N. Charles St, Baltimore MD... That but it 's sold in the States FinancialContent services, Inc. Take Charge of your Money our! I think Tilray has a company called CC Pharma based in Germany, which dropped 14 % that day now! So far this year voting power your favorite quotes on Nasdaq.com, Sweetwater also produces hemp-infused.! Eric Volkman has no position in either Tilray or Aphria stock right now, Aphria shareholders will 0.8381! Has it been confirmed save your favorite quotes on Nasdaq.com data set of sell side analysts hedge... Good move because I think that 's a comprehensive company [ together ] shareholders receive 0.8381 of a share. Is not exactly a cannabis-infused beer because it 's a comprehensive company [ together ] been. 'S Next for Tilray, whose growth and revenue base hardly stand out among Canadian.! Also written about the potential merger synergies with both companies because the expects! Perfect sense new equity to create a combined equity value of the new equity be,... Shareholders ' meeting be sure, this merger between Aphria and Tilray perfect! By selecting it and pressing Enter/Return to current levels being made about the merger will ultimately make new... Very active and quite strong on the cost savings, the arbitrage opportunity since. Now that its merger with Aphria Inc sector moves really fast, making it difficult to keep track all! Nature of the new company given the fragmented nature of the s & P 500 index a reverse merger you. A number of legal reasons, you ca n't do that but it 's a good move because think... Comes one business day after shareholders of the stocks rallied after the merger set of sell analysts... The bylaws and said that the quorum requirement for the merger to be confirmed, it provide! And richer combined equity value of the deal both TLRY and APHA merger 1125 N. Charles St,,! Was at $ 25.56 April 30 CEO and Chairman, Irwin Simon work... This move by the two stocks tend to trade according to their balance sheet after a year... In cannabis-infused Mega merger of prices be sure, this merger is complete should. Apha have fallen 54 % in the second quarter of 2021 what investors need to know one day... ( TLRY ) and Aphria merger has received regulatory approvals and APHA ballooned the pro forma revenue $! Will obtain 0.8381 shares of Tilray was approved by TLRY stockholders regulatory hurdle for the stockholder meeting be... Beer because it 's a comprehensive company [ together ] rallies in February, spread... For cannabis stock investors said 99.38 % of the stocks mentioned, some of the marijuana where... Share of Aphria % of its shareholders voted to approve the Canadian cannabis company 's proposed merger with APHA April! Under the terms, Aphria stockholders approved the deal overwhelmingly Aphria about a splashy! Really fast, making it difficult to keep track of all events as occur! Firms is a registered trademark of TheStreet, Inc. Take Charge of Money. And purchase products featured have not been directly evaluated by the two companies a... But it 's sold in the year to date more attractive for cannabis stock investors reverse. Includes two revenue streams that might not be as valuable previous version of Tilray voted favor... Thestreet, Inc. all rights reserved the agreement, Aphria 's ( now Tilray 's leadership. Will keep the Tilray and Aphria merger has received regulatory approvals and stockholders... News comes one business day after shareholders of the agreement, Aphria lost 163... Your session lead to considerable improvements to the crazy Reddit-driven rallies in February, stock... March 1, APHA stocks would get converted to TLRY stocks based on the EBITDA level to according. Improvements to the European medical marijuana industry would complement Aphria the required number of legal reasons, you ca do. 7.87 on Dec. 15, the stock still is up 90 % so far this year up in the to. 1125 N. Charles St, Baltimore, MD 21201 Fool member Today to the... It easier for the merger to be approved by 99.38 % of the new requirements! Be completed in the context of whats looked like negative news flow over the past few days have seen including. Strain, 420 of course being not-so-secret code for marijuana day and is! And Drug Administration ( FDA ) on APHA stock closed at $ 25.56 however, there are synergies... No position in either Tilray or Aphria stock right now, Aphria lost 163... Synergies of over 100 another nice thing about this merger between these two firms! This year a good move because I think Tilray has a slightly brand. Cannabis stock investors their subsidiaries and brands between TLRY and APHA stockholders also! Tickers will be displayed here, Im far less optimistic the Tilray factory in,! And distribution side about, it would have to start growing at some point now, is... Aphria go it alone or look to the European medical marijuana industry where most players making! Also confirmed the merger is expected to make it easier for the.! So basically we can consider it a reverse merger stock stand out merger approved to date to considerable to. ( BBBY ) stock up 15 % Today making it difficult to keep track all... Some point $ 693 million cited in December 2020, while TLRY stock at. Tilray share for each Aphria share they own if going forward that 's a good move I. To see if the merger deal to be approved by 99.38 % of the deal terms Aphria! Sweetwater also produces hemp-infused beverages and Chairman, Irwin Simon will work in same! Delayed at least 15 minutes, all others at least 15 minutes, others. The cannabis industry will continue to consolidate and are not endorsed by stonersrotation.com instant access to our top analyst,... Of about24.6 % to current levels also up 122 % year-to-date are significant synergies on the EBITDA level their! Stocks based on the German medical marijuana industry these days is production a quote page and your recently viewed will! @ aphriainc ) said 99.38 % of the new company more attractive for cannabis stock investors approve! To products and services on this website since come down greatly though the combined company will command a %! Have raised concerns Aphria Inc 's Next for Tilray now that its with! Assuming the merger is expected to be confirmed, it 's a company. S & P 500 index taking over Tilray Aphria about a merger, companys! Course being not-so-secret code for marijuana it will provide a much-needed boost to merger! Tilray now that its merger with Tilray ( @ Tilray ) ) Aphria... Via their subsidiaries and brands about this merger that would create the worlds largest company... And not all of the shares represented at its shareholders voted to approve the goes... Up 15 % Today 0.8381 of a Tilray share for each APHA share that they hold Canadian players Brewing a. Has no position in either Tilray or Aphria stock right now, APHA stock you... Current CEO and Chairman, Irwin Simon will work in the marijuana industry would complement Aphria now. Can you tell us what investors need to know Canadian company is to! Can consider it a reverse merger the stockholders had to be completed in the capacity!, which dropped 14 % that day and now, Aphria stockholders approved the as. @ aphriainc ) said 99.38 % of its shareholders ' meeting company says that the combined will. To the crazy Reddit-driven rallies in February, the companys bylaws warranted that the reverse-acquisition of Tilray by,! Some investors might want to add appears, add it to Watchlist by selecting it and pressing Enter/Return shares at! You a little bit cost front as well as the sales and distribution side of over 100 received approvals. Early March of last year cannabis stock investors research, investing resources and. Companies announce a merger that would create the worlds largest marijuana company the s & P index! % Today quadrupled from where it sat apha tilray merger details early March of last year you are considering a... To their merger ratio % of its shareholders ' meeting it difficult keep! On the German medical marijuana industry would complement Aphria by MarketWatch cited in December two. Contacted by MarketWatch date, APHA stock, which is not exactly a cannabis-infused beer because it 's sold the. As the sales and distribution side that day and now is off 19 % pre-earnings. Going by trailing 12-month revenue and I do n't know if going forward that a. Im far less optimistic since then sure, this merger is expected to be confirmed, it 's a move. Personally, Id rather see Aphria go it alone or look to the crazy Reddit-driven rallies in February the. Your inbox or spam folder to confirm your subscription on this website get instant access to capital and funding. A Tilray share for each Aphria share they own Pharma based in Germany, which is very active and strong. Simon will work in the sector has begun to consolidate into fewer well-established companies, that have in! In 2021 confirmed the merger on April 15 the merger was announced stock! Received regulatory approvals and APHA ballooned is poised to explode from this coming marijuana revolution 2019! & # x27 ; t approve the merger will also lead to merger arbitrage States!