Tilray Brands Inc.
Tilray Brands Announces At-The-Market Equity Program to Fund Acquisitions
Summary
Tilray Brands, Inc. announced on May 17, 2024, that it has filed a prospectus supplement with the SEC, authorizing an at-the-market (ATM) equity program to offer and sell up to $250 million of its common stock through TD Securities (USA) LLC and Jefferies LLC. The net proceeds from the ATM Program will be used for strategic and accretive acquisitions, particularly in the U.S. and internationally, to capitalize on expected regulatory advancements and expansion opportunities. This program is pursuant to the equity distribution agreement filed as Exhibit 1.1 and a shelf registration statement on Form S-3. The Company aims to accelerate its expansion plans upon U.S. cannabis rescheduling when effective.
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Exhibits (3)
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About Tilray Brands Inc.
Tilray Brands Inc. is a pioneering player in the emerging global cannabis industry. A diversified company, it engages in the research, cultivation, production, and distribution of cannabis and hemp-based products. Tilray's primary function is to develop, produce, and distribute a wide range of medicinal and recreational cannabis products, including dried flower, extracts, and edibles. The company also produces hemp foods and alcoholic beverages. Founded in 2013, Tilray has rapidly gained a significant foothold, serving both medical patients and recreational consumers in multiple countries, including Canada, the United States, and parts of Europe. Tilray Brands Inc. operates within an industry that intersects with pharmaceuticals, consumer goods, and agriculture, heavily impacting sectors such as healthcare, wellness, and food and beverages. Through strategic acquisitions and partnerships, Tilray broadens its product offerings and global market presence. Its emphasis on research and innovation propels its market significance, especially as the demand for alternative wellness products grows. With the cannabis sector continuing to evolve, Tilray is poised as a key contributor to shaping market dynamics, establishing itself as a reputable brand committed to high-quality cannabis and cannabinoid-based products.
Official SEC Documents
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