Tilray Brands Shares Down on $14.6M Debt-for-Equity Transaction

Dow Jones
11 Mar
 

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)

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