Neptune wellness enters into binding term sheet with morgan stanley providing option to exchange debt of sprout organics

Neptune has the option within 90 days to exchange existing sprout debt for sprout equity resulting in neptune ownership of approximately 89.5% of sprout laval, qc , aug. 17, 2023 /prnewswire/ - neptune wellness solutions inc. ("neptune" or the "company") (nasdaq: nept), a consumer-packaged goods company focused on plant-based, sustainable and purpose-driven lifestyle brands, today announced entering into a binding term sheet with nh expansion credit fund holdings l.p. ("morgan stanley" or "msec") for the company's organic baby and toddler food brand, sprout organics, providing neptune with an option to exchange its existing sprout debt for sprout equity, on or prior to november 13, 2023 (the "exchange").
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