Tilray Acquires $23.8M Promissory Note In Deal With Double Diamond On Heels Of Brewery Acquisition
Portfolio Pulse from Jelena Martinovic
Tilray Brands, Inc. (NASDAQ:TLRY) acquired a $23.8 million promissory note from Double Diamond Holdings Ltd, issuing 13.2 million shares in return. This follows Tilray's acquisition of Atwater Brewery from Molson Coors (NYSE:TAP), enhancing its position in the U.S. craft beer market.
September 17, 2024 | 2:14 pm
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NEUTRAL IMPACT
Molson Coors (TAP) sold Atwater Brewery to Tilray, which may slightly impact its craft beer market presence.
The sale of Atwater Brewery to Tilray may have a minor impact on Molson Coors' presence in the craft beer market, but it is not expected to significantly affect its overall business.
CONFIDENCE 85
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Tilray acquired a $23.8M promissory note from Double Diamond and completed the acquisition of Atwater Brewery, strengthening its U.S. craft beer market position.
The acquisition of the promissory note and the completion of the Atwater Brewery acquisition are strategic moves that enhance Tilray's market position in the U.S. craft beer industry. This is likely to positively impact Tilray's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100