Canopy Growth inks $50M financing deal [Seeking Alpha]
Canopy Growth Corporation - Common Shares (CGC)
Company Research
Source: Seeking Alpha
Per the terms of the deal announced on Friday, the Smiths Falls, Ontario-based company will issue a new senior unsecured convertible debenture with five-year maturity in exchange for C$27.5M of existing debt maturing in September 2025. In addition to the convertible debenture valued at C$96.4M, the investor will receive ~3.4M common share purchase warrants, each allowing the investor to receive one common share of the company for C$16.18 apiece in about five years. The convertible debenture will carry an interest rate of 7.50% per annum and will be convertible at a conversion price of C$14.38 per common share, Canopy ( CGC ) said. The closing of the offering is expected to take place during the week of May 6, 2024. The company intends to use its net proceeds for working capital and general corporate purposes. More on Canopy Growth Recommended For You More Trending News Recommended For You More Trending News Related Stocks Trending Analysis Trending News
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CGC
Earnings
- 2/9/24 - Miss
CGC
Sec Filings
- 5/14/24 - Form EFFECT
- 5/13/24 - Form 424B3
- 5/13/24 - Form 424B3
- CGC's page on the SEC website