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CANOPY GROWTH ANNOUNCES US$150 MILLION REGISTERED DIRECT OFFERING
CANOPY GROWTH ANNOUNCES US$150 MILLION REGISTERED DIRECT OFFERING Canada NewsWire ...
About this update from Canopy Growth Corporation
[{"type":"text","content":"\n \n \n \n CANOPY GROWTH ANNOUNCES US$150 MILLION REGISTERED DIRECT OFFERING\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n SMITHS FALLS, ON\n \n \n ,\n \n \n Feb. 21, 2023\n \n \n /CNW/ - Canopy Growth Corporation (\"\n \n Canopy Growth\n \n \" or the \"\n \n Company\n \n \") (TSX: WEED) (NASDAQ: CGC) announced today that it has entered into an agreement (the \"\n \n Agreement\n \n \") with an institutional investor (the \"\n \n Institutional Investor\n \n \") for the purchase and sale of up to\n \n US$150,000,000\n \n aggregate principal amount of senior unsecured convertible debentures (the \"\n \n Convertible\n \n \n Debentures\n \n \").\n \n \n \n \n \n \n \n \n \n Pursuant to the terms of the Agreement, the Institutional Investor purchased an initial\n \n US$100,000,000\n \n of the Convertible Debentures and an additional\n \n US$50,000,000\n \n of the Convertible Debentures will be purchased in the event that certain conditions outlined in the Indenture (as defined below) are satisfied or waived. As further described below, no cash will be payable by Canopy Growth in any circumstances in respect of principal, interest or any other amounts owing pursuant to the terms of the Convertible Debentures.\n \n \n \"Canopy Growth is executing a strategy focused on accelerating growth and profitability by transforming our Canadian operations and fast-tracking entry into the U.S. market,\" said\n \n Judy Hong\n \n , Chief Financial Officer of Canopy Growth. \"Building on other recent actions taken to enhance cash flow, this attractive capital immediately adds to Canopy Growth's cash on hand and provides additional flexibility to continue advancing strategic priorities\".\n \n \n The Convertible Debentures were purchased pursuant to a registration statement on Form S-3ASR with the United States Securities and Exchange Commission with respect to the offer and sale of the Convertible Debentures and the common shares of the Company (the \"\n \n Common Shares\n \n \") underlying the Convertible Debentures. The Convertible Debenture...