Ewing Morris Avenue LP Launches Unsolicited Tender Offer for 6.8% of Decibel Cannabis Company Shares
Decibel Cannabis Company Inc. (TSXV: DB) has issued a statement regarding an unsolicited tender offer from Ewing Morris Avenue LP to purchase up to 2,617,801 common shares, representing approximately 6.8% of the company's outstanding stock. The offer is priced at $1.91 per share in cash, which constitutes a premium of roughly 16.4% over the 20-day volume-weighted average price and a 19.4% premium over the previous closing price of $1.60. The transaction is structured as a direct purchase from existing shareholders and does not involve the company itself; therefore, no new shares will be issued and there will be no dilution to current holders. Decibel's management and Board of Directors have stated they do not intend to tender any shares, maintaining their position as long-term holders. The offer is conditional on a minimum deposit of 1,745,200 shares and is set to expire on November 6, 2026.
Topics: shareholder buyout stock premium unsolicited tender offer
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Part of the story Ewing Morris Avenue LP Launches Unsolicited Tender Offer for 6.8% of Decibel Cannabis Company Shares (2 articles)