BTI News & Events

Popular nicotine pouch products have yet to be cleared for sale in the United States despite a fast-track Food and Drug Administration scheme as scientists at the agency hesitate to authorize them due to potential risks to new users, including children, three sources told Reuters. Shares of Philip Morris (PM) are down $12.38, or 7.5%, to $152.97 in early Wednesday trading. Other publicly traded makers of tobacco products include Altria Group (MO), British American Tobacco (BTI) and Imperial Brands (IMBBY).

Organigram Global (OGI) announced that it has entered into a subscription agreement with BT DE Investments, a wholly-owned subsidiary of British American Tobacco (BTI), in connection with its previously announced proposed acquisition of Sanity Group, including shares of Sanity owned by BAT. The terms of the Subscription Agreement provide for the subscription by BAT for 14,027,074 shares of Organigram at a price of C$3.00 per share, for gross proceeds of C$42.08M, and also the exercise of certain existing top-up rights to subscribe for 9,897,356 Shares at a price of C$2.335854 per share, for gross proceeds of C$23.12M and for total gross proceeds of C$65.2M. ATB Financial is acting as sole lead arranger and bookrunner.

Organigram Global (OGI) (TSX: OGI) announced that it has entered into a subscription agreement with BT DE Investments, a wholly-owned subsidiary of British American Tobacco (BTI), in connection with its previously announced proposed acquisition of Sanity Group, including shares of Sanity owned by BAT. The terms of the Subscription Agreement provide for the subscription by BAT for 14,027,074 Shares of Organigram at a price of C$3.00 per share, for gross proceeds of C$42.08M, and also the exercise of certain existing top-up rights to subscribe for 9,897,356 Shares at a price of C$2.335854 per Share, for gross proceeds of C$23.12M and for total gross proceeds of C$65.2M. ATB Financial is acting as sole lead arranger and bookrunner.