Why Tilray Stock Is Getting Smoked After Hours
Portfolio Pulse from Adam Eckert
Tilray Brands Inc (NASDAQ:TLRY) announced a registered offering of $150 million worth of convertible senior notes due in 2027, with a 30-day period for underwriters to purchase an additional $22.5 million. The company plans to use the proceeds to finance the repurchase of outstanding convertible senior notes due in 2023 and 2024.
May 25, 2023 | 8:36 pm
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Tilray's stock is trading lower after announcing a $150 million convertible senior notes offering, which may lead to dilution for existing shareholders.
Tilray's announcement of a $150 million convertible senior notes offering may lead to dilution for existing shareholders, as the debt will be converted to equity at a future date. This news has caused the stock to trade lower in the after-hours session, indicating a negative short-term impact on the stock price.
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IMPORTANCE 80
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