Today APHA & TLRY announced that the merger is officially closed. Yay! Ok, but what does this mean for my stock??
If you were a holder of APHA shares as of 4/30/21 (Friday), each of your APHA shares will turn into 0.8381 shares of TLRY. This means that if you had 100 APHA shares, you will now have 83.81 shares of TLRY. Keep in mind there are NO fractional shares. This means that if your shares come out to 83.81, you will only receive 83 shares of TLRY. That number is always rounded DOWN, not up and there will be NO CASH to compensate you for your fractional share (so you can lose at most 0.99 shares of TLRY depending on how much APHA you have - which is like ~$18.56 (if TLRY is at $18.75))
If you were a holder of TLRY shares you are STILL a holder of TLRY shares. Nothing changes for you. In the announcement, the company mentions the TSX listing, but this is a DUAL LISTING. TLRY will continue to trade on NASDAQ. TLRY will ALSO trade under the symbol "TLRY" on the Toronto Stock Exchange (TSX) starting May 5th. Really nothing for you to do here, just gives you the ability to trade them on either exchange - it provides extra liquidity.
Another thing to keep in mind is the "back office" - this happens at big banks and at big hedge funds too. APHA has HALTED today and will no longer trade. TECHNICALLY you now own TLRY shares that were given to you in the merger. When those show up in your account and you have the ability to freely trade those depends on what broker you use. If you're worried about it - call them. If you want to buy TLRY today, you can. Just go buy more and then the APHA shares that converted to TLRY will be added to your position when everything settles with your broker.
