Cannabis company Tilray will release more shares to the market
Jun 10, 2019
Tilray gained more than 13% in the stock market after the Canadian company announced it had made a deal with its biggest stakeholder to release its shares gradually over the next two years. Privateer Holdings funded Tilray in 2013 and took it public last summer; it holds 77% of Tilray's shares valued at $2.91 billion. Tilray plans to acquire Privateer down the line and put its shares for sale within the next two years in a deal that won't bring any taxes for investors. The company has struck significant deals recently, including pharmaceutical company Novartis, and brewing conglomerate Anheuser-Busch InBev.