Tilray Shares Plunge On The Heels Of $90.4M Equity Offering

Tilray Inc. TLRY announced Friday that it has priced a $90.4-million equity offering.

The Nanaimo, Canada-based company is offering 7.25 million Class 2 shares and, in place of Class 2 shares, pre-funded warrants to buy 11.75 million Class 2 shares and accompanying warrants to buy 19 million Class 2 shares at a price of $4.76 per share.

Tilray said it plans to utilize the net proceeds from the offering for corporate purposes.

The warrants have a five-year term from the date of exercisability, which should be around six months upon issuance at a price of $5.95 per share of Class 2 shares, according to Tilray.

The offering is expected to be finalized March 17, the company said. 

Canaccord Genuity LLC is the sole book-running manager for the offering.

The stock was down 32.77% at $4 at the time of publication Friday. 

Related Links:

Why Restructurng Efforts Don't Necessarily Signal The End Of A Cannabis Company's Downturn

The Week In Cannabis: Coronavirus Concerns, Moves In UK And Mexico, Tilray Earnings, Canopy Growth Cuts

Photo courtesy of Tilray. 

Posted In: CannabisNewsOfferingsMarketsCanaccord Genuity
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

The Benzinga Cannabis Capital Conference is coming to Florida

The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.

Get your tickets now on bzcannabis.com – Prices will increase very soon!


Loading...