Canadian cannabis company Sundial acquires special purpose vehicle for about $46 million [MarketWatch]
SNDL Inc. - Common Shares (SNDL)
Company Research
Source: MarketWatch
Canadian cannabis company Sundial Growers Inc. said Wednesday it has closed the acquisition of a special purpose vehicle for C$58.9 million ($46 million) in cash, which it funded using its available cash reserves of C$110 million. The special purpose vehicle owns C$58.9 million of senior secured debt issued by Zenabis Investment Ltd, a unit of Zenabis Global Inc. The loan pays interest at a rate of 14% a year and matures on March 31, 2025. Zenabis will also pay Sundial a royalty based on quarterly sales from its medical, recreational and wholesale cannabis businesses. U.S.-listed shares of Sundial, which once had a $1 billion valuation, closed Tuesday at 46 cents.
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SNDL
Sec Filings
- 4/15/24 - Form S-8
- 4/9/24 - Form 6-K
- 4/2/24 - Form 6-K
- SNDL's page on the SEC website