Financial Wire

Organigram Closes Acquisition of Sanity for $126.6 Million

-- Organigram Global (OGI) said Wednesday it closed its acquisition of Sanity Group for 107.3 million euros ($126.6 million).

The consideration included 78 million euros in cash and 29.3 million euros in shares.

The company also closed a private placement with British American Tobacco's (BTI) unit BT DE Investments for gross proceeds of 40.3 million euros, along with senior secured credit facilities of up to CA$60 million.

Max Konrad Narr was appointed to Organigram's board for the duration of the earnout period tied to Sanity's financial performance through April 1, 2027.

Price: $1.49, Change: $+0.06, Percent Change: +4.20%

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