Trulieve shares rise as it closes its Harvest Health acquisition

Trulieve Cannabis Corp. shares rose 3.4% on Friday after the company closed its acquisition of Harvest Health & Recreation by issuing 50.87 million shares. With combined second-quarter revenue of $317.6 million, Trulieve ranks among the highest among U.S. public reporting cannabis companies, edging out Curaleaf's $312 million in Q2 revenue but trailing the $421.9 million from Scotts Miracle-Gro Co. , according to a list compiled by New Cannabis Ventures. Trulieve's current footprint includes 149 dispensaries in 11 states. Separately, Trulieve on Thursday said it received commitments for a private placement of 8% senior secured notes due 2026 for gross proceeds of $350 million. Trulieve CEO Kim Rivers said the company believes the debt offering is the largest to date of any public U.S. cannabis operator. The stock is down 12% this year, compared to a 14% drop by the Advisor Shares Pure US Cannabis ETF . Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Trulieve shares rise as it closes its Harvest Health acquisition
Trulieve Cannabis Corp. shares rose 3.4% on Friday after the company closed its acquisition of Harvest Health & Recreation by issuing 50.87 million shares. With combined second-quarter revenue of $317.6 million, Trulieve ranks among the highest among U.S. public reporting cannabis companies, edging out Curaleaf's $312 million in Q2 revenue but trailing the $421.9 million from Scotts Miracle-Gro Co. , according to a list compiled by New Cannabis Ventures. Trulieve's current footprint includes 149 dispensaries in 11 states. Separately, Trulieve on Thursday said it received commitments for a private placement of 8% senior secured notes due 2026 for gross proceeds of $350 million. Trulieve CEO Kim Rivers said the company believes the debt offering is the largest to date of any public U.S. cannabis operator. The stock is down 12% this year, compared to a 14% drop by the Advisor Shares Pure US Cannabis ETF . Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.