Why Canopy Growth Stock Price Is Growing Monday
Portfolio Pulse from Erica Kollmann
Canopy Growth Corporation (NASDAQ:CGC) announced it has completed all conversions pursuant to the $100 million convertible debentures and provided an update to its balance sheet actions. The company has equitized $263 million of the 4.25% Unsecured Notes due in July 2023, paid down $188 million of the senior secured term loan, refinanced $100 million of the 4.25% Unsecured Notes due in July 2023, and generated $81 million in cash proceeds from the disposition of five facilities. The company's shares are trading over 40% at 54 cents at the time of publication.
July 03, 2023 | 3:51 pm
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Canopy Growth Corporation has completed all conversions pursuant to the $100 million convertible debentures and updated its balance sheet actions. This has resulted in a significant increase in the company's stock price.
The company's announcement of completing all conversions pursuant to the $100 million convertible debentures and updating its balance sheet actions has likely led to increased investor confidence, resulting in a significant increase in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100