Green Thumb Industries (CSE: GTI) (OTC: GTBIF) disclosed that an LLC controlled by its CEO, Ben Kovler, disposed of 5.5 million subordinated voting shares at C$19.25, worth approximately $79 million and representing 2.5% of the company’s fully-diluted shares outstanding. The sale, which was a private transaction at a slight discount to the market price, comes near a 52-week high for the company:
The shares were sold to a single undisclosed institutional buyer. The sale represented 19% of Kovler’s ownership, either directly or through controlled entities, prior to the transaction. After the sale, he owns or controls 183,254 super voting shares, which can be converted into 18.33 million subordinated voting shares, and 5.07 million subordinated voting shares.
Get ahead of the crowd by signing up for 420 Investor, the largest & most comprehensive premium subscription service for cannabis traders and investors since 2013.