We Are Motley. A Message of Solidarity From The Motley Fool. It’s paying around $73 million to acquire the Canadian CBD products company. A recent asset purchase by Charlotte’s Web Holdings (OTC:CWBH.F) is now in the books. The company announced Thursday that its buyout of Abacus Health Products has closed. The two companies announced the all-stock…
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A recent property purchase by Charlotte’s Web Holdings( OTC: CWBH.F) is now in the books. The business announced Thursday that its buyout of Abacus Health Products has closed.
The 2 business revealed the all-stock offer in March, agreeing that Abacus Health investors would receive 0.85 of one Charlotte’s Web typical share in exchange for each share they held of their company.
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Like Charlotte’s Web, Abacus Health, whose stock was noted on the Canadian Securities Exchange prior to the acquisition, focuses on the manufacture of cannabidiol (CBD) products. It produces and sells both medical and recreational products instilled with the active ingredient. With its brand-new property, Charlotte’s Web is significantly raising its presence in the CBD section.
” The addition of Abacus Health cements a market leading position in both topical and ingestible items in the CBD classification, representing roughly 33%market share of the U.S. CBD food/drug/mass retail channel,” Charlotte’s Web said in the press release declaring the closure of the deal.
The company stated that numerous of Abacus’ topicals would be made available through Charlotte’s Web’s e-commerce platform.
In the wake of the closing, Charlotte’s Web stated, it now has almost 90.3 million shares of its typical stock outstanding. This represents a significant rise from the current tally of simply under 72 million, as reported by Yahoo! Financing. Abacus’ shares on the Canadian Securities Exchange were expected to have been delisted.
Financiers didn’t catch much of a buzz from this deal. Charlotte’s Web shares closed down by nearly 9.7%on Thursday, a worse performance than that of the wider equities market and lots of peer marijuana stocks
position in any of the stocks pointed out.
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