Flora Growth Corp. to Acquire Australian Vaporizers in All Stock Transaction Valued At $1.7M
Portfolio Pulse from Charles Gross
Flora Growth Corp. (NASDAQ:FLGC) has agreed to acquire Australian Vaporizers Pty Limited in an all-stock transaction valued at $1.7 million. The deal, expected to close in Q4 2023, will see Flora exchange 600,676 of its common shares for all issued and outstanding shares of Australian Vaporizers. The acquisition is expected to contribute $5.2 million in annual revenues, $1.2 million in gross margins, and $0.5 million in net income to Flora.
September 18, 2023 | 10:08 am
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Flora Growth Corp.'s acquisition of Australian Vaporizers is expected to boost its annual revenues, gross margins, and net income. The deal is set to close in Q4 2023.
The acquisition of Australian Vaporizers by Flora Growth Corp. is expected to be immediately accretive, contributing significantly to its revenues, gross margins, and net income. This is likely to have a positive impact on Flora's stock price.
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