ACRDF Acreage
Headquartered in New York City, Acreage is one of the largest vertically integrated, multi-state operators of cannabis licenses and assets in the U.S., according to publicly available information. Acreage owns licenses to operate or has management or consulting services or other agreements in place with license holders to assist in operations in 20 states (including pending acquisitions) with a population of approximately 180 million Americans, and an estimated 2022 total addressable market of $16.7 billion in legal cannabis sales, according to Arcview Market Research. Acreage is dedicated to building and scaling operations to create a seamless, consumer-focused branded cannabis experience. Acreage's national retail store brand, The Botanist, debuted in 2018.
Company profile
Ticker
ACRDF, ACRHF
Exchange
Website
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
SEC CIK
Corporate docs
Subsidiaries
1627 West Main, LLC • 22nd and Burn Inc. • Acreage California Holding Company, LLC • Acreage CCF New Jersey, LLC • Acreage Chicago 1, LLC • Acreage Compass, LLC • Acreage Compassionate Care Holdings • Acreage Compassionate Care OK, LLC • Acreage Connecticut, LLC • Acreage Desert Hot Springs, LLC ...
News
$600 Million Lawsuit Claims Fraud By Medical Marijuana Company Tied to Acreage Holdings
18 Jan 22
The Week In Cannabis: Pfizer, Visa, $730M+ In Financings, Malta, EU, Columbia Care, MedMen, Uruguay And More
17 Dec 21
Acreage Secures $150M In Financing Via Senior Secured Credit Facility With AFC Gamma & Viridescent Realty Trust
17 Dec 21
Former Texas Gov. Rick Perry Supports Psychedelic Research For Vets At 'End Veteran Suicide' Event
24 Nov 21
The Week In Cannabis: Earnings Season, A GOP Legalization Bill, Seth Rogen & Sarah Silverman's Campaign
12 Nov 21
Investment data
Securities sold
Number of investors
Calendar
11 Nov 21
24 Jan 22
31 Dec 22
Financial summary
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Financial data from Acreage earnings reports.
| Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 29.48M | 29.48M | 29.48M | 29.48M | 29.48M | 29.48M |
| Cash burn (monthly) | 2.78M | 3.25M | 2.83M | 4.97M | (positive/no burn) | 3.48M |
| Cash used (since last report) | 10.63M | 12.41M | 10.8M | 18.98M | n/a | 13.3M |
| Cash remaining | 18.85M | 17.08M | 18.69M | 10.51M | n/a | 16.18M |
| Runway (months of cash) | 6.8 | 5.3 | 6.6 | 2.1 | n/a | 4.6 |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 30 Dec 21 | Kevin P Murphy | Common Stock - Class D Subordinate Voting Shares | Buy | Acquire P | No | No | 1.2944 | 10,000 | 12.94K | 680,982 |
| 30 Dec 21 | Kevin P Murphy | Common Stock - Class E Subordinate Voting Shares | Buy | Acquire P | No | No | 1.769 | 15,000 | 26.54K | 1,207,687 |
| 23 Dec 21 | Robert Daino | Common Stock - Class D Subordinate Voting Shares | Sell | Dispose S | No | No | 1.2671 | 743 | 941.46 | 422,777 |
| 23 Dec 21 | Robert Daino | Common Stock - Class E Subordinate Voting Shares | Sell | Dispose S | No | No | 1.81 | 1,622 | 2.94K | 1,031,245 |
| 23 Dec 21 | James A Doherty III | Common Stock - Class D Subordinate Voting Shares | Sell | Dispose S | No | No | 1.2671 | 644 | 816.01 | 333,073 |
| 23 Dec 21 | James A Doherty III | Common Stock - Class E Subordinate Voting Shares | Sell | Dispose S | No | No | 1.81 | 1,402 | 2.54K | 821,894 |
| 1 Oct 21 | Kevin P Murphy | Common Stock - Class E Subordinate Voting Shares | Buy | Acquire P | No | No | 2.256 | 16,000 | 36.1K | 1,192,687 |
| 10 Sep 21 | Lopez Patricia E | Common Stock - Class E Subordinate Voting Shares | Grant | Acquire A | No | No | 0 | 27,174 | 0 | 27,174 |
| 10 Sep 21 | Lopez Patricia E | Common Stock - Class D Subordinate Voting Shares | Grant | Acquire A | No | No | 0 | 111,386 | 0 | 111,386 |
Financial report summary
?Competition
Sky Petroleum • Generation Hemp • iANTHUS CAPITAL • Curaleaf • Green Thumb Industries • Cresco LabsManagement Discussion
- During 2020, as part of an overall strategic plan to focus on key, profitable operations we decided to continue to develop operations in the following nine core states of Connecticut, Maine, Massachusetts, New Hampshire, New York, New Jersey, Pennsylvania, Illinois and Ohio. We expect this shift in focus to lead to margin improvements and accelerate our pathway to achieve positive returns.
- •We began adult-use sales at our dispensary in Illinois; the significantly increased sales have exceeded internal expectations. We also received zoning approval to open a dispensary in Chicago.
- •The Company closed a refinancing transaction and conversion related to Northeast Patients Group, operating as WCM, a medical cannabis business in Maine, resulting in ownership of WCM by three Maine residents, as required by Maine law. In connection with the transaction, WCM converted from a non-profit corporation to a for-profit corporation.
Content analysis
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H.S. sophomore Avg
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New words:
billed, brought, capable, CBD, centralization, competed, damage, deficiency, department, enable, experienced, filled, formation, furnish, Greeneleaf, Hurricane, Ida, incorrectly, innovation, lead, Medterra, misstatement, nationwide, newly, nil, personnel, pipeline, prepaid, recruiting, repair, Sewell, shortage, slightly, staffing, suffered, summer, supplement, tap, technical, timeframe, tornado, training, turnover, unusually, weather, widespread
Removed:
NaN, paragraph
Financial reports
10-Q
2021 Q3
Quarterly report
11 Nov 21
10-Q
2021 Q2
Quarterly report
9 Aug 21
10-Q
2021 Q1
Quarterly report
10 May 21
10-K
2020 FY
Annual report
25 Mar 21
10-Q
2020 Q3
Quarterly report
18 Dec 20
NT 10-Q
Notice of late quarterly filing
16 Nov 20
10-K/A
2019 FY
Annual report (amended)
14 Aug 20
10-Q
2020 Q2
Quarterly report
14 Aug 20
NT 10-Q
Notice of late quarterly filing
30 Jun 20
10-Q
2020 Q1
Quarterly report
28 Jun 20
Current reports
8-K
Acreage Holdings Secures $150 Million Credit Facility to Accelerate Strategic Growth Initiatives
22 Dec 21
8-K
Acreage Holdings Reports Third Quarter 2021 Results
11 Nov 21
8-K
Acreage Holdings Acquires Cultivation, Processing, and Retail Operations in Ohio
7 Oct 21
8-K
Other Events
20 Sep 21
8-K
Acreage Announces Damages to its Sewell Facility
8 Sep 21
8-K
Acreage Holdings Reports Second Quarter 2021 Results
9 Aug 21
8-K
Entry into a Material Definitive Agreement
16 Jun 21
8-K
Submission of Matters to a Vote of Security Holders
3 Jun 21
8-K
Acreage Holdings Reports First Quarter 2021 Results
10 May 21
8-K
Acreage Announces Closing of Divestiture of Florida Operations
3 May 21
Registration and prospectus
424B3
Prospectus supplement
22 Dec 21
424B3
Prospectus supplement
15 Nov 21
424B3
Prospectus supplement
11 Aug 21
S-8
Registration of securities for employees
6 Aug 21
424B3
Prospectus supplement
11 May 21
424B3
Prospectus supplement
27 Apr 21
S-1/A
IPO registration (amended)
22 Apr 21
S-1
IPO registration
8 Feb 21
RW
Registration withdrawal request
26 Jan 21
S-3
Shelf registration
21 Oct 20
Proxies
DEFA14A
Additional proxy soliciting materials
16 Apr 21
DEF 14A
Definitive proxy
16 Apr 21
DEFA14A
Additional proxy soliciting materials
19 Aug 20
DEFM14A
Proxy related to merger
17 Aug 20
PRER14A
Preliminary revised proxy
6 Aug 20
PREM14A
Preliminary proxy related to merger
21 Jul 20
DEFA14A
Additional proxy soliciting materials
13 Jul 20
DEFA14A
Additional proxy soliciting materials
30 Jun 20
DEFA14A
Additional proxy soliciting materials
10 Jun 20
DEF 14A
Definitive proxy
10 Jun 20
Other
EFFECT
Notice of effectiveness
28 Apr 21
CORRESP
Correspondence with SEC
22 Apr 21
UPLOAD
Letter from SEC
18 Feb 21
UPLOAD
Letter from SEC
28 Sep 20
CORRESP
Correspondence with SEC
13 Sep 20
EFFECT
Notice of effectiveness
4 Sep 20
UPLOAD
Letter from SEC
2 Sep 20
CORRESP
Correspondence with SEC
31 Aug 20
CORRESP
Correspondence with SEC
20 Aug 20
CORRESP
Correspondence with SEC
13 Aug 20
Ownership
4
Acreage / Kevin P Murphy ownership change
4 Jan 22
4
Acreage / James A Doherty III ownership change
27 Dec 21
4
Acreage / Robert Daino ownership change
27 Dec 21
4
Acreage / Kevin P Murphy ownership change
4 Oct 21
4
Acreage / PATRICIA E LOPEZ ownership change
13 Sep 21
4
Acreage / Kevin P Murphy ownership change
26 Aug 21
4
Acreage / James A Doherty III ownership change
20 Aug 21
4
Acreage / Robert Daino ownership change
20 Aug 21
4
Acreage / Kevin P Murphy ownership change
19 Aug 21
4
Acreage / Kevin P Murphy ownership change
17 Aug 21