TLRY - Breaking: High Times To Go Public Via Deal With Nasdaq-Listed Lucy Scientific | Benzinga
High Times Holding Corp., a touchstone in the cannabis culture for nearly five decades, announced a landmark transaction with Lucy Scientific Discovery Inc. (NASDAQ: LSDI) that would finally make the iconic brand publicly traded. The deal involves a divestment of core High Times assets, including its IP, brand and licensing business, to Lucy in exchange for 19.9% of Lucy's publicly traded shares.
A Strategic Realigning
The transaction is an all-stock deal that places the valuation of High Times' divested assets at an undisclosed upfront sum. Lucy will issue a yet-to-be-disclosed number of shares of stock to High Times. These shares, along with additional ones that may be issued as "earn-out shares,” will be registered for resale under the Securities Act and will be distributed among High Times stockholders.
"Putting High Times into the hands of one of the senior brand builders who helped make Disney ...