SNDL INC Stock Price, News & Analysis

Sundial Growers Inc. (NASDAQ: SNDL) reaffirmed its commitment to the planned arrangement with Alcanna Inc. (TSX: CLIQ) announced on October 7, 2021. Alcanna shareholders will receive 10.69 Sundial shares for each Alcanna share, reflecting a value of approximately $8.08 per Alcanna share, an 11% premium as of December 7, 2021. The plan has garnered unanimous support from Alcanna's board and ISS, which recommends shareholders vote 'FOR' the arrangement at the special meeting on December 14, 2021. Sundial's CEO emphasized the strategic importance of the arrangement amid market volatility.

On December 2, 2021, Sunstream IVXX Investment Corp. announced the confidential submission of a draft registration statement to the SEC for a proposed IPO. As a specialty finance company, Sunstream IVXX plans to operate as a closed-end, non-diversified management investment company, focusing on investments in the U.S. cannabis industry's debt. The exact number of shares and price range for the offering are yet to be determined, with the public offering expected to commence in Q1 2022 following SEC review and market conditions.

Sundial Growers (SNDL) has approved a new C$100 million share repurchase program, allowing the company to buy back its common shares to enhance shareholder value. The program will commence on November 19, 2021, and run until November 19, 2022, with a cap of 102.8 million shares (approx. 5% of outstanding shares). Purchases may occur via various methods at management's discretion, based on market conditions. All repurchased shares will be canceled. This move signifies Sundial's commitment to return capital to shareholders.

Sundial Growers reported a net earnings of $11.3 million for Q3 2021, a turnaround from a $71.4 million loss in Q3 2020. Adjusted EBITDA surged to $10.5 million, compared to a loss of $4.4 million year-on-year. Total net revenue from cannabis segments reached $14.4 million, a 57% increase from Q2 2021 and a 12% increase from Q3 2020. Sundial retains $1.1 billion in cash and marketable securities. The company acquired Inner Spirit and plans to acquire Alcanna, enhancing its retail presence and stability. Conference call scheduled for November 12, 2021.

Sundial Growers Inc. (Nasdaq: SNDL) will release its Q3 financial results for the period ending September 30, 2021, on November 11, 2021, after market close. A conference call and webcast for investors is scheduled for November 12, 2021, at 10:30 a.m. EST. Investors can submit questions in advance to enhance engagement, with a submission deadline of November 10, 2021. Sundial operates within the cannabis sector and also manages investments across the industry.

Sundial Growers (NASDAQ: SNDL) announced a disposal of 2,336,500 common shares of Indiva (TSXV: NDVA) for $1,141,336 between September 3 and October 19, 2021. This sale reduced Sundial's holdings in Indiva from 25,000,000 shares (18.58%) to 22,663,500 shares (15.59%). The shares were sold at an average price of $0.488 each. Sundial indicated that the disposals were for investment purposes, and it may adjust its ownership in Indiva based on market conditions. This release complies with National Instrument 62-103 regarding early warning reports.

Sundial Growers (SNDL) announced its agreement to acquire Alcanna Inc. for approximately $346 million. The acquisition aims to enhance Sundial's cash flow through Alcanna's liquor retail operations, which generated $16.4 million in free cash flow in the last twelve months. The transaction will create a leading retail presence in Canada's cannabis market, with over 170 locations. Alcanna shareholders will receive 10.69 Sundial shares per Alcanna share, equating to a 39% premium. The deal is expected to close by Q1 2022.

Sundial Growers Inc. (NASDAQ: SNDL) announced the acquisition of over 10% of The Valens Company Inc. (TSX: VLNS) common shares. On September 17, 2021, Sundial purchased 100,000 shares at $3.00 each, totaling $300,000. This purchase increased Sundial's holdings to 18,671,300 shares, representing approximately 10.00% of Valens' total shares. The shares were acquired for investment purposes, and Sundial may adjust its holdings based on market conditions. An early warning report has been filed in compliance with securities regulations.