Summary by Moomoo AI
Canopy Growth Corporation announced an upsized private placement offering of US$35 million with institutional investors. The offering consists of 8,158,510 units priced at US$4.29 per unit, with each unit comprising one common share and one warrant, entitling the holder to purchase one common share at US$4.83. The proceeds are intended for debt repayment, working capital, and general corporate purposes. The offering is expected to close on January 19, 2024, subject to Toronto Stock Exchange approval and customary closing conditions. The company has also agreed to provide customary registration rights to the investors. This announcement is in line with Canopy Growth's strategy for overall debt reduction and is aimed at strengthening the company's financial position.