InterCure Signs Definitive Agreement to Acquire Leon Cannabis Pharmacy Chain; At Closing, InterCure Will Cause Between 1,755,000 To 1,845,000 Shares Of The Company To Be Issued To The Sellers, Depending On The Share Price Of The Company At The Time Of Completion
Portfolio Pulse from Benzinga Newsdesk
InterCure has signed a definitive agreement to acquire the Leon Cannabis Pharmacy Chain. Upon closing, InterCure will issue between 1,755,000 to 1,845,000 shares to the sellers, with the exact number depending on InterCure's share price at the time of completion.
January 31, 2024 | 2:23 pm
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InterCure's acquisition of Leon Cannabis Pharmacy Chain will result in the issuance of up to 1.845 million shares, which may dilute current shareholders but could also expand the company's market presence.
The acquisition of Leon Cannabis Pharmacy Chain by InterCure is a strategic move that could potentially expand the company's footprint in the cannabis industry. However, the issuance of new shares could dilute the value for existing shareholders in the short term. The impact on the stock price will depend on investor perception of the acquisition's long-term benefits versus the immediate dilution effect.
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