Turning Point Brands and Standard Diversified Inc. Announce Merger Transaction
Turning Point Brands, Inc. (TPB)
Last turning point brands, inc. earnings: 4/28 07:30 am
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US:NYSE Investor Relations:
turningpointbrands.com/investor-relations
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Turning Point Brands, Inc. (the “TPB”) (NYSE: TPB) and Standard Diversified Inc. (“SDI”) (NYSE: SDI) announced today that they have entered into a definitive agreement under which SDI will be merged into a wholly-owned subsidiary of TPB in a tax-free downstream merger, in a transaction first announced by the companies in November 2019.Under the terms of the agreement, the holders of SDI’s Class A Common Stock and SDI’s Class B Common Stock (collectively, the “SDI Common Stock”) will receive in the aggregate, in return for their SDI Common Stock, TPB Voting Common Stock (“TPB Common Stock”) at a ratio of 0.97 of a share of TPB Common Stock for each share of TPB Common Stock held by SDI.SDI has divested, or will prior to the merger divest, its assets of SDI other than its TPB Common Stock and has agreed that its net liabilities at closing will not exceed $25,000. These divestitures include the disposition of SDI’s interest in Maidstone Insurance Company (“
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TPB
News
- Turning Point Brands, Inc. (NYSE: TPB) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- Turning Point Brands, Inc. (NYSE: TPB) had its "buy" rating re-affirmed by analysts at Roth Mkm. They now have a $70.00 price target on the stock, up previously from $55.00.MarketBeat
- Turning Point Brands, Inc. (NYSE: TPB) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Here's Seven Corners Capital's Updates on Turning Point Brands (TPB) [Yahoo! Finance]Yahoo! Finance
- Turning Point Brands, Inc. (NYSE: TPB) had its price target raised by analysts at Craig Hallum from $60.00 to $75.00. They now have a "buy" rating on the stock.MarketBeat
TPB
Earnings
- 11/7/24 - Beat
TPB
Sec Filings
- 12/13/24 - Form 8-K
- 12/13/24 - Form 424B5
- 11/14/24 - Form SC
- TPB's page on the SEC website