|Bid||0.3335 x 1300|
|Ask||0.3362 x 900|
|Day's range||0.3251 - 0.3450|
|52-week range||0.2900 - 0.9600|
|Beta (5Y monthly)||5.13|
|PE ratio (TTM)||N/A|
|Earnings date||10 Aug 2022 - 15 Aug 2022|
|Forward dividend & yield||N/A (N/A)|
|1y target est||0.57|
Sundial Growers (NASDAQ: SNDL) is still in deal-making mode. One company that it has a history with, Zenabis, recently filed for protection from creditors, and the ever-opportunistic management team at Sundial is looking at scooping up the assets of its struggling cannabis peer. On June 20, Sundial issued a press release stating that it had entered into a bid agreement to potentially acquire the assets of Zenabis including its shares.
Shares of Sundial Growers (NASDAQ: SNDL) grew 12.3% taller on Tuesday (as of 1:30 p.m. ET) after the Canadian cannabis company announced that it has submitted a "stalking horse bid" to acquire insolvent Hexo (NASDAQ: HEXO) subsidiary Zenabis Global for an undisclosed sum. Hexo owns Zenabis, having acquired the company last year for $235 million Canadian dollars ($181.87 million). Prior to that happening, however, Sundial had loaned Zenabis CA$58.9 million in December 2020, the bulk of which remains outstanding.
Sundial Growers Inc. (Nasdaq: SNDL) ("Sundial" or the "Company") announced today that, in the context of the initial order pursuant to the Companies' Creditors Arrangement Act (Canada) ("CCAA") pertaining to the Zenabis Group (as defined below) rendered on June 17, 2022, it entered into a purchase agreement, in the form of a "stalking horse bid" (the "Bid Agreement"), pursuant to which the shares of Zenabis Global Inc. and the business and assets of its direct and indirectly wholly-owned subsidi