Replies to post #454 on Acreage Holdings Inc (ACRDF)

[happyglass]

happyglass Member Level Thursday, 05/23/19 11:42:55 PM
Re: Dbrown13 post# 107211 0
Post # of 107435
Here is what I found as far as the timing for the pay out:

This is from the wording of the Arrangement:
“In accordance with the Plan of Arrangement, promptly following the Initial Effective Time, the Payment Agent will deliver an aggregate of US$300 million on a pro rata basis to the Acreage Holders (other than holders of unvested Profit Interests).”

This is from the list of definitions:

“Initial Effective Date” means the date on which the Arrangement Filings are filed with the Registrar in accordance with the terms of the Arrangement Agreement.
“Initial Effective Time” means 12:01 a.m. (Vancouver time) on the Initial Effective Date, or such other time on the Initial Effective Date as the Parties agree to in writing before the Initial Effective Date.
“Initial Effective Time Outside Date” means August 31, 2019 or such later date as may be agreed to in writing by the Parties; provided that if the Parties receive a request for additional information and documentary materials pursuant to the HSR Act, then such date shall be automatically extended to December 31, 2019.


This seems to be the expected timeline for the Effective date:

Implementation of the Arrangement is expected to occur in June of 2019; however, it is possible that completion may be delayed beyond this date if the conditions to implementation of the Arrangement cannot be met on a timely basis, but in no event will implementation of the Arrangement occur later than the Initial Effective Time Outside Date, unless extended by mutual agreement of the Parties or otherwise in accordance with the terms of the Arrangement Agreement.