InsideArbitrage Event Driven Monitor – April 11, 2023

Quick updates on the event driven strategies we follow on InsideArbitrage.

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Merger Arbitrage

1. HEXO Corp. (HEXO) to be acquired by Tilray Brands (TLRY) for $170.35 million in an all-stock deal. Under the terms of the Arrangement Agreement, HEXO Shareholders will receive 0.4352 of a share of Tilray common stock in exchange for each HEXO Share held.
2. Citizens Financial Services (CZFS) received the requisite regulatory approvals and waivers from the Pennsylvania Department of Banking and Securities and the Board of Governors of the Federal Reserve System and the Federal Reserve Bank of Philadelphia necessary to complete its acquisition of HV Bancorp (HVBC).
3. Focus Financial Partners (FOCS) announced the expiration of the 40-day “go-shop” period.

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