Summary by Moomoo AI
Canopy Growth Corporation has filed Amendment No. 5 to its Preliminary Proxy Statement on Schedule 14A with the U.S. Securities and Exchange Commission (SEC) on January 25, 2024. This filing is in response to the SEC staff's comments regarding Amendment No. 4, which was originally filed on August 11, 2023. The SEC had raised concerns about Canopy Growth's plans to deconsolidate the financial results of Canopy USA from its financial statements in accordance with U.S. GAAP, following a restructuring of Canopy's interests in Canopy USA. Canopy Growth has made additional amendments to address these concerns and facilitate the deconsolidation. The company has also updated its disclosures to identify a third-party investor and the natural person(s) controlling the investor, as requested by the SEC staff. The legal representatives of Canopy Growth are available for further communication with the SEC to discuss Amendment No. 5 or provide additional information as needed.