Institutional Investor Buys $79 Million of Green Thumb Industries Stock

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.

Exclusive article by Alan Brochstein, CFA
Alan Brochstein, CFA
Based in Houston, Alan leverages his experience as founder of online community 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email

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