By Adriano Marchese
Tilray Brands shares fell Tuesday morning after the company said it would look to exchange $14.6 million of its debt for new shares.
Shares trading in Toronto fell 5.3% to 90 Canadian cents (62 cents). The stock is currently down 53% year-to-date.
The cannabis company said late Monday that it has entered into certain private debt-for-equity exchange transactions with unrelated parties to issue 23 million shares.
The company will exchange the new shares for $14.6 million aggregate principal amount of its convertible senior notes due June 1, 2027, at a rate of 5.2%.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
March 11, 2025 10:05 ET (14:05 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.