Lucy Scientific Discovery Will Acquire Bluesky Wellness And Its Portfolio Of Brands In All-Stock Transaction; BlueSky's Shareholders Will Receive 3.5M Lucy Scientific's stock, And Annual Earn Out Payments Based EBITDA Multiple In Each Of Next 5 Years
Portfolio Pulse from Benzinga Newsdesk
Lucy Scientific Discovery is set to acquire Bluesky Wellness and its portfolio of brands in an all-stock transaction. Bluesky's shareholders will receive 3.5M Lucy Scientific's stock and annual earn out payments based on EBITDA multiple for the next 5 years. This acquisition expands Lucy's capabilities into the wellness category by adding psychotropic products.
September 12, 2023 | 11:09 am
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Lucy Scientific Discovery's acquisition of Bluesky Wellness could potentially increase its market reach and diversify its product portfolio, which may positively impact its stock price.
The acquisition of Bluesky Wellness allows Lucy Scientific Discovery to expand into the wellness category, which could potentially increase its market reach and diversify its product portfolio. This could lead to increased revenues and profitability, which may positively impact its stock price.
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