Green Thumb CEO Ben Kovler Loses $52.5 Million Worth Of Shares As Part Of Divorce Settlement

It appears that a divorce has cost Green Thumb Industries’ (CSE: GTII) CEO Ben Kovler a fair chunk of his voting power in the company. The executive disclosed this evening that a marital settlement has result in a portion of his super voting shares being handed over as part of the agreement.

Collectively, Kovler has seen his super voting shares decline by 35,000, or roughly 19% as a result of the settlement. Kovler was forced to convert 15,000 of his super voting shares into multiple voting shares, which were then converted into 1.5 million subordinate voting shares of the issuer. Those 1.5 million shares were then handed over as part of the settlement, along with 20,000 super voting shares.

Prior to the arrangement, Kovler held 183,254 of the super voting shares, which represented 72.81% of all super voting shares outstanding. Post transaction, that figure has dropped to 148,254, representing 62.6% of the class.

On an as-converted basis, the settlement amounts to an estimated $52.5 million.

Green Thumb’s super voting shares are worth 1,000 votes and convert into one multiple voting share. Each multiple voting share carries 100 votes, and is convertible into 100 subordinate voting shares.

Green Thumb Industries last traded at $15.00 on the CSE.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization unless otherwise mentioned. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Green Thumb Posts Q3 Revenues Of $157.1 Million, Net Income Of $9.6 Million

Green Thumb Industries (CSE: GTII) reported its third quarter financial results this evening after the...

Wednesday, November 11, 2020, 04:41:48 PM

Green Thumb Industries Former CEO Continues To Unload Position

It appears that insider sales are becoming somewhat of a trend as of late. Following...

Sunday, August 30, 2020, 09:00:00 AM

Green Thumb Industries Posts Q4 2020 Revenues Of $177.2 Million, Net Income of $23.9 Million

Green Thumb Industries (CSE: GTII) this evening reported its fourth quarter and full year financial...

Wednesday, March 17, 2021, 04:30:06 PM

Green Thumb Sees Six Analysts Up Price Targets Following Q2 Earnings

Green Thumb Industries (CSE: GTII) reported their second-quarter results last week, with the company generating...

Monday, August 17, 2020, 10:35:48 AM

Needham Names Green Thumb Industries, Ayr Strategies As 2021 Top Picks

This month, Needham & Company released a 2021 outlook wherein they named Ayr Strategies (CSE:...

Friday, January 1, 2021, 01:45:00 PM