Aphria Inc (TSX: APHA) (NASDAQ: APHA) has seen its shareholders approve the proposed merger with that of Tilray Inc (NASDAQ: TLRY). Following the approval, Tilray is now one step closer to acquiring all the outstanding shares of Aphria.
The special meeting saw a total of 108,409,367 Aphria shares represented by proxy, which amounts to roughly 34.4% of all outstanding shares. Those shares voted 99.38% in favor of the proposed transaction, thereby approving the merger arrangement.
Following the approval, shareholders of Aphria are to receive 0.8381 of a Tilray Class 2 common share for each share of Aphria held. Tilray shareholders meanwhile will continue to hold their current shares with no adjustments being conducted.
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The closing of the arrangement remains subject to approval by Tilray shareholders as well as the courts. Tilray was originally to hold its special meeting of shareholders tomorrow, however the company this morning announced that the meeting has been pushed to April 30 at 11:00 AM to allow shareholders more time to vote. It’s unclear what specifically caused the company to delay voting.
Aphria last traded at $17.80 on the TSX.
Information for this briefing was found via Sedar and Aphria Inc. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
