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Benzinga

Business

Jelena Martinovic

Canopy USA's Acquisition Of Acreage Could Mean Staggering Losses For Some Shareholders

Acreage Canopy Canopy USA United States Canopy Growth

Acreage Holdings, Inc. (CSE:ACRG, ACRG.B.U)) (OTCQX:ACRHF, ACRDF)) said it anticipates that Canopy USA, LLC –Canopy Growth Corporation‘s (TSX:WEED) (NASDAQ:CGC) strategy for capturing the U.S. cannabis market will complete its acquisition of Acreage by mid-December, 2024.

The move could leave holders of Acreage’s Class E shares (fixed shares) with nothing. That is, if Canopy’s stock price price remains below $5 when the deal closes, Acreage pointed out in a Monday press release.

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