Sundial Growers (NASDAQ: SNDL) has pushed the filing of its fourth quarter earnings for the second time as of this morning, with the firm now set to release results on Monday, March 30. The second push has been attributed to discussions with lenders regarding modifying credit agreements.
Originally set to release earnings on March 12, the company originally had pushed their earnings to be released this morning, with the associated conference call to take place at 8;30 AM EDT. At the time, they had blamed that push on finalizing negotiations for a financing transaction.
The company has now indicated that the final push is a result of modifying credit agreements. Why this is required is up for speculation, such as whether its in relation to security granted under a new potential financing transaction, or whether its related to adjusting covenants on outstanding loans due to pending results.
What Sundial did indicate is that the rescheduling of the release date is not in relation to the completion of the financial results, suggesting that the documents themselves are ready to go. Sundial’s fourth quarter and full fiscal year audited financial results are now to be released after the markets close on March 30, with the related call to take place the following morning.
Sundial Growers last traded at $1.05 on the Nasdaq.
Information for this briefing was found via Sedar and Sundial Growers. 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.
