Published on 3 May 2024 on Benzinga
Canopy Growth Announces Financing Deal Including Roughly $50M Of New Gross Proceeds - Canopy Gwth...
Canopy Growth Corporation WEED CGC has entered into an exchange and subscription agreement with a single institutional investor under which the Ontario-based company is expected to receive gross proceeds of roughly $50 million and exchange approximately CA$27.5 million ($20 million) of existing debt maturing in September 2025 for a new senior unsecured convertible debenture of the company maturing five years following the day of issuance.
Under the terms of the deal, the investor will acquire a convertible debenture in an aggregate principal amount equal to CA$96,358,375 on closing.