Jupiter Wellness to buy peer Next Frontier, shares rise

Bonk

09/12/2021 17:01

** Shares in pharma cannabinoid products developer  JUPW.O 
rise 4.4% to $1.41
    ** Jupiter Wellness agrees to buy peer Next Frontier to beef
up its pharmaceutical cannabinoids and psychedelics portfolio  urn:newsml:reuters.com:*:nACSf5fRna
    ** Next Frontier's stockholders will be entitled to get JUPW
convertible stock that can be converted into 65 mln JUPW common
shares - Jupiter Wellness
    ** Jupiter Wellness adds it has loaned $10.2 mln to Next
Frontier in connection with the deal, which in the first full
year of combined ops will add to its earnings
    ** The deal is expected to close in Q1 2022
    ** JUPW shares have lost nearly three-fourths of their
market value this year

 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com;))