Has Trulieve (TCNNF) Stock Risen Last Session For A Reason?

The stock of Trulieve Cannabis Corp [OTCQX: TCNNF] sprang 4.04% to $29.505 at the previous close. Volume for TCNNF stock was 375.16K against Average Volume of 408.86K for the past 30 days. TCNNF’s stock value ranged from $18.520 to $53.730 over the last 52 weeks. TCNNF’s stock value improved as some holdings were acquired.

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What company did TCNNF buy stakes in?

The US-based company, Trulieve, is an industry leader with vertical integration in the CBD industry. It operates in 11 states including Arizona, Florida, and Pennsylvania, and is one of the best-selling brands in those states. TCNNF is poised for rapid growth and expansion, with a focus on retail and distribution across existing and emerging markets. As a provider of innovative and high-quality products across its brand portfolio, TCNNF helps patients and customers live without limits by improving their customer experience and increasing access to cannabis.

In the previously announced arrangement, TruLieve completed last week the acquisition of all of Harvest’s unaudited subordinate voting stock, multiple voting stock, and super voting stock.

Featured Transaction Benefits:

  • As a result of the transaction, TCNNF will be the largest US cannabis company when it closes, with a strong footprint in key markets and substantial scale across the hub markets.
  • Additionally, it establishes a solid business model for profitability and cashflow generation for continued growth, enabling TCNNF to serve as a catalyst at the state and federal levels both for near-term opportunities and for future ones.
  • The transaction delivers the best financial performance among all US reporting MSOs by reinforcing superior financial performance.
  • As part of the deal, the dispensary network will also be expanded to 149 locations across 11 states and three regional hubs, including market-leading positions in Arizona, Florida, and Pennsylvania.
  • In addition to increasing the strength of the company’s balance sheet, TCNNF and Harvest will combine their strong cash and cash equivalent balances of $289.0 million and $71.0 million, respectively, at the end of June 2021.
  • In addition to the recent $350 million debt financing, Harvest also sold its Florida license for $55.0 million, boosting the balance sheet efforts.
  • TCNNF will extend its portfolio of in-house brands and partnerships with national brand partners by adding Harvest’s successful Harvest brands, such as Alchemy and Roll One, across multiple form factors.
  • TCNNF expects to rely on experienced and best-practice management teams, combining cultivation, manufacturing, and retail expertise to improve operational excellence.

How did TCNNF complete the transaction?

An arrangement plan was utilized under the Business Corporation Act (British Columbia) to complete the Transaction. A harvest share holder will receive 0.1170 shares of TCNNF for each Harvest share they hold, under the terms of the Arrangement. In connection with the Transaction, Trulieve (TCNNF) issued 50,874,175 Trulieve Shares in exchange for the Harvest Shares that were issued and outstanding.


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