Welcome to our dedicated page for KSHB news (Ticker: KSHB), a resource for investors and traders seeking the latest updates and insights on KSHB stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect KSHB's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of KSHB's position in the market.
Greenlane and KushCo have announced a merger agreement that will see KushCo become a wholly owned subsidiary of Greenlane. The transaction, expected to close in late Q2 or early Q3 2021, aims to create a leading ancillary cannabis company with a pro forma revenue exceeding $250 million for 2020. KushCo shareholders will receive approximately 0.2546 shares of Greenlane stock for each share they own, giving them about 49.9% of the combined entity. This merger is projected to yield $15-$20 million in annual cost-saving synergies and expand market opportunities across the cannabis supply chain.
KushCo Holdings (OTCQX:KSHB) announced the retirement of its senior unsecured term debt, paying off a total of $17 million to eliminate the outstanding Senior Note. This move significantly reduces the company's total debt and realigns its capital structure. Additionally, KushCo closed a $40 million oversubscribed direct offering. The company has achieved positive adjusted EBITDA for two consecutive quarters and aims to support ongoing growth with remaining capital. This strategic financial move positions KushCo favorably for future business operations and growth in the legal cannabis and CBD industries.
KushCo Holdings (OTCQX:KSHB), a leader in ancillary products for the cannabis and CBD market, announced its participation in several financial conferences in February and March 2021. Key events include the Benzinga Cannabis Capital Conference on February 26, followed by the Needham 2nd Annual Virtual Cannabis Conference on March 3, and the Virtual Roth Conference on March 15. These platforms will showcase executive insights and facilitate one-on-one meetings. The company emphasizes its commitment to sustainability and corporate governance through various initiatives.
XS Financial has launched a new syndication platform, securing $1 million in funds for non-dilutive financing aimed at expanding capital deployment in the cannabis sector. This first syndication was completed with Kadens Family Holdings, LLC, led by former Green Thumb Industries CEO Pete Kadens. The initiative will enhance XS Financial's capacity to fund capital expenditures and strengthen its lease portfolio. The company continues to provide financing solutions to U.S. cannabis companies since its establishment in 2017, leveraging partnerships with over 150 original equipment manufacturers.
KushCo Holdings (OTCQX: KSHB) announced a registered direct offering to raise approximately $40 million through the sale of 24,242,424 shares of common stock at $1.65 per share, along with warrants for 9,696,969 shares with an exercise price of $2.00. The proceeds will be utilized for paying down debt and supporting corporate functions, including working capital and product development. The offering is expected to close around February 24, 2021, subject to customary conditions.
KushCo Holdings (OTCQX: KSHB) has renewed its partnership with ABSTRAX, a leader in cannabis-derived terpenes, enhancing its service offerings. This renewed collaboration will allow KushCo customers to access exclusive discounts on ABSTRAX products, alongside custom terpene profiles and innovations. The partnership promises a 100% gross margin for KushCo on referrals made to ABSTRAX. Despite this positive development, CEO Nick Kovacevich emphasized that KushCo will not handle terpenes directly due to regulatory restrictions. The partnership aims to foster growth and innovation in the cannabis sector.
KushCo Holdings has partnered with United Pacific to launch custom-designed CBD Wellness Centers across 350 gas stations and convenience stores in the Western US. Set to debut in December 2020, these centers will feature a wide range of products from seven KushCo client brands, ensuring compliance with federal regulations by offering hemp-derived products with less than 0.3% THC. This collaboration expands KushCo's retail presence significantly, aiming to connect with millions of consumers annually, despite previous challenges from regulatory and COVID-19 obstacles.
KushCo Holdings (OTCQX:KSHB), a leading provider of ancillary products for the cannabis industry, is set to participate in three financial conferences in November and December 2020. The events include the Jefferies Virtual West Coast Consumer Conference on November 18, the Cowen 2020 Boston Cannabis Conference on December 1, and the ROTH Virtual Deer Valley Consumer Event on December 10. Key executives, including CEO Nick Kovacevich and CFO Stephen Christoffersen, will represent the company at these conferences, focusing on business developments and investor relations.
KushCo Holdings (KSHB) reported a significant milestone in its fiscal Q4 2020, achieving positive adjusted EBITDA and cash flow from operations for the first time in over three years.
Despite a 44% decline in net revenue year-over-year to $26.5 million, the company experienced a 19% sequential increase in revenue, attributing this to strong sales to top customers. SG&A expenses fell by over 50%, resulting in substantial cost savings. For fiscal 2021, KushCo projects net revenue between $120 million and $150 million, alongside an adjusted EBITDA forecast of $5 million to $7 million.
KushCo Holdings (OTCQX: KSHB) plans to announce its fiscal fourth quarter and full year results on October 29, 2020, at 4:30 p.m. Eastern time.
Results will be accessible on its investor relations website, followed by a conference call. The company has provided significant products and services in the legal cannabis and CBD industries, having sold over 1 billion units since its inception in 2010. KushCo emphasizes its commitment to sustainability and community support through various initiatives.
