[ad_1]
Canadian Cannabis Society Tilray Inc.
TLRY, -7.18%
Thursday evening announced the price of its convertible debt of $ 450 million, valuing the company's shares at a premium of 15%. The initial conversion rate was announced at 5.97,355 Class 2 common shares for $ 1,000 principal amounting to an initial conversion price of approximately $ 167.41 per share. This represents a premium of about 15% over Tilray 's share price, which stood at $ 145.57 at the close of trading this Thursday. Ticket sales should be settled on October 10th. Tilray indicated that it would use the proceeds of the sale to fund working capital, future acquisitions and general requirements, as well as to repay an existing mortgage of approximately $ 9.1 million related to its Nanaimo plant in the United States. British Columbia. Tilray announced for the first time the sale of convertible bonds on Wednesday and shares fell 7.2% in normal trading on Thursday, but jumped 3% in after-hours trading immediately following the announcement.
Have the latest news sent to your inbox. Subscribe to free e-mails from the MarketWatch newsletter. Register here.
Source link
