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Tilray Shares Climb 6% After Announcing Debt-for-Equity Deal

Benzinga ·  May 14 10:54

$Tilray Brands (TLRY.US)$ shares are trading higher on Tuesday after the company announced a private debt-for-equity deal.

In a new regulatory filing, Tilray said it expects to issue an aggregate of up to 13.1 million shares in exchange for $19.8 million aggregate principal amount of its 5.25% Convertible Senior Notes due June 1, 2024.

Tilray said after giving effect to the exchange transaction, there are no 2024 Convertible Notes that remain outstanding as of Tuesday.

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