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.
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