iAnthus Capital Holdings to combine with MPX
On January 18, iAnthus Capital Holdings (ITHUF) announced that the Supreme Court of British Columbia had approved a plan of arrangement as per the Business Corporation Act of British Columbia whereby iAnthus Capital Holdings would acquire all issued and outstanding common shares of MPX Bioceutical. The acquisition will be undertaken as per the October 18, 2018, arrangement agreement between iAnthus Capital Holdings and MPX Bioceutical Corporation.
When the arrangement agreement is closed, MPX’s spin-off company, MPX International, will still control all of MPX Bioceutical’s non-US businesses. The spin-off company will continue to develop and work toward cultivating, manufacturing, and commercializing cannabis products.
On January 18, iAnthus Capital Holdings stock closed at $4.7, ~5.18% higher than its close of $4.5 on January 17, 2019. On January 14, iAnthus Capital Holdings stock rose ~6.74% to $4.8 from its close of $4.5 on January 11, 2019.
iAnthus Capital Holdings stock closed at $4.1 on December 31, 2018, and reached $4.7 on January 18, 2019, a ~15% YTD (year-to-date) rise. The stock closed at $4.7 on January 18, ~36% below its 52-week high of $7.3 on September 12, 2018. iAnthus Capital Holdings hit its 52-week low of $2.2 on March 29, 2018.
MPX Bioceutical’s performance
On January 18, MPX Bioceutical Corporation (MPXEF) stock closed at $0.7, ~1.84% higher than its previous close of $0.73. MPX’s stock price closed at $0.64 on December 31, 2018, and reached $0.74 on January 18, 2019, reflecting ~16% YTD growth.
The stock’s 52-week high of $0.97 is ~24% higher than its current stock price. MPX hit its 52-week low of $0.46 on February 2, 2018.
Of the six analysts tracking iAnthus Capital Holdings in January, one has given it a “strong buy,” while five have given it “buys.”