Urban-gro Stock Skyrockets on Flashy Merger Deal – Is This the Cannabis Builder’s Comeback?
Urban-gro’s announcement of a planned merger with Flash Sports & Media sent its battered stock soaring on October 14. The company revealed it signed a binding LOI to combine with Flash, a private sports-media firm, in what is effectively a reverse mergertipranks.com. Under the proposal, Flash will be absorbed into new Urban-gro subsidiaries, and Flash’s shareholders will receive new Urban-gro shares equal to 19.99% of UGRO’s pre-merger common stock, plus a new series of preferred shares that convert to common upon shareholder approvalsec.govsec.gov. Once the dust settles, Flash’s owners would end up with roughly 90% of the post-merger companysec.gov.
