BAT Subsidiary Updates Organigram Stake in SC 13D/A Filing
Ticker: OGI · Form: SC 13D/A · Filed: Jan 25, 2024 · CIK: 1620737
| Field | Detail |
|---|---|
| Company | Organigram Holdings INC. (OGI) |
| Form Type | SC 13D/A |
| Filed Date | Jan 25, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 17 min |
| Key Dollar Amounts | $3.2203, $124,559,674.36 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: insider-ownership, amendment, strategic-investment
TL;DR
**BAT's subsidiary just updated its Organigram stake, signaling continued strategic interest.**
AI Summary
BT DE Investments Inc., a subsidiary of British American Tobacco P.L.C., filed an Amendment No. 3 to its Schedule 13D on January 25, 2024, regarding its ownership in Organigram Holdings Inc. This filing updates previous disclosures, indicating a continued significant stake in the cannabis company. This matters to investors because British American Tobacco's involvement provides Organigram with substantial financial backing and strategic partnership, potentially influencing its growth trajectory and market position.
Why It Matters
This filing confirms British American Tobacco's ongoing strategic interest in Organigram, which can be a strong signal of confidence and potential future collaboration or investment for shareholders.
Risk Assessment
Risk Level: low — The filing indicates a stable, ongoing investment relationship, which generally reduces risk for existing shareholders.
Analyst Insight
Investors should monitor future filings from BT DE Investments Inc. for any changes in their ownership percentage or stated intentions, as these could signal shifts in British American Tobacco's strategic involvement with Organigram.
Key Players & Entities
- BT DE Investments Inc. (company) — the entity filing the SC 13D/A
- British American Tobacco P.L.C. (company) — the group member of the filing entity
- Organigram Holdings Inc. (company) — the subject company whose securities are being reported
- Anthony B. Petitt (person) — contact person for BT DE Investments Inc.
- Bradley C. Brasser (person) — legal counsel for the filing party
FAQ
What type of filing is this document?
This document is an SC 13D/A, which is an amendment to a Schedule 13D filing, as stated in the 'FORM TYPE: SC 13D/A' and 'Amendment No. 3' sections.
Who is the subject company of this filing?
The subject company is ORGANIGRAM HOLDINGS INC., as explicitly stated under 'SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ORGANIGRAM HOLDINGS INC.'
Which entity filed this SC 13D/A?
The filing was made by BT DE Investments Inc., as indicated under 'FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BT DE Investments Inc.'
What is the relationship between BT DE Investments Inc. and British American Tobacco P.L.C.?
British American Tobacco P.L.C. is listed as a 'GROUP MEMBER' of the filing entity, BT DE Investments Inc., implying BT DE Investments Inc. is a subsidiary or related entity.
What is the date of the event that required this filing?
The date of the event which requires filing of this statement is January 23, 2024, as stated in the document.
Filing Stats: 4,361 words · 17 min read · ~15 pages · Grade level 12.9 · Accepted 2024-01-25 17:23:26
Key Financial Figures
- $3.2203 — issued to the Purchaser at a price of C$3.2203 per Share (the Tranche Share Price). Un
- $124,559,674.36 — Tranche, and the Third Tranche will be C$124,559,674.36. The source of funds for such purchase
Filing Documents
- d30296dsc13da.htm (SC 13D/A) — 115KB
- d30296dex991.htm (EX-99.1) — 330KB
- 0001193125-24-015566.txt ( ) — 446KB
of this Amendment No. 3 is hereby amended to add the following
Item 7 of this Amendment No. 3 is hereby amended to add the following: 99.1 Amended and Restated Investor Rights Agreement, dated as of January 23, 2024, between the Purchaser and the Issuer.* * Confidential treatment requested. CUSIP: 68620P101 Page: Page 7 of 7 After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this Statement is true, complete and correct. Dated: January 25, 2024 BT DE Investments Inc. By: /s/ Anthony B. Petitt Name: Anthony B. Petitt Title: Treasurer British American Tobacco p.l.c By: /s/ Caroline Ferland Name: Caroline Ferland Title: Secretary Schedule A BAT Entities BAT Entity Name, state or other place of organization Address of principal office British American Tobacco p.l.c. England and Wales Globe House, 4 Temple Place, London WC2R 2PG, United Kingdom British American Tobacco (1998) Limited England and Wales Globe House, 4 Temple Place, London WC2R 2PG, United Kingdom British American Tobacco (2012) Limited England and Wales Globe House, 4 Temple Place, London WC2R 2PG, United Kingdom British American Tobacco (2009) Limited England and Wales Globe House, 4 Temple Place, London WC2R 2PG, United Kingdom Weston (2009) Limited England and Wales Globe House, 4 Temple Place, London WC2R 2PG, United Kingdom B.A.T. Industries p.l.c. England and Wales Globe House, 4 Temple Place, London WC2R 2PG, United Kingdom British-American Tobacco (Holdings) Limited England and Wales Globe House, 4 Temple Place, London WC2R 2PG, United Kingdom Louisville Securities Limited England and Wales Globe House, 4 Temple Place, London WC2R 2PG, United Kingdom BATUS Holdings Inc. Delaware 103 Foulk Road, Suite 201-3, Wilmington, DE 19803 BT DE Investments Inc. Delaware 103 Foulk Road, Suite 201-3, Wilmington, DE 19803 Schedule B BAT Directors and Officers The name, country of citizenship an