Zinger Key Points
- Canopy Growth announces a $30 million private placement.
- Canopy shares were down more than 11% at last check.
- Feel unsure about the market’s next move? Copy trade alerts from Matt Maley—a Wall Street veteran who consistently finds profits in volatile markets. Claim your 7-day free trial now.
Canopy Growth Corp CGC shares are trading lower Tuesday after the company announced a $30 million private placement.
What Happened: Canopy Growth entered into subscription agreements with certain institutional investors in a private placement offering of 6,993,007 units at $4.29 per unit. The company anticipates gross proceeds of approximately $30 million.
Each unit will consist of one common share and one purchase warrant, which entitles the holder to acquire a share for $4.83.
The offering is expected to close on or about Jan. 10. Canopy said the offering will provide additional liquidity and further strengthen its financial position. The company expects to use gross proceeds to pay down debt, as well as for working capital and other general corporate purposes.
Check This Out: Tilray's Diversified Growth Strategy Is Paying Off, Here's What's Behind 34% YoY Revenue Increase In Q2
CGC Price Action: Canopy shares were down 11.1% at $4.48 at the time of publication, according to Benzinga Pro.
Photo: MasterTux from Pixabay.
Edge Rankings
Price Trend
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving—don’t get left behind!
Curious about what’s next for the industry and how to stay ahead in today’s competitive market?
Join top executives, investors, and industry leaders at the Benzinga Cannabis Capital Conference in Chicago on June 9-10. Dive deep into market-shaping strategies, investment trends, and brand-building insights that will define the future of cannabis.
Secure your spot now before prices go up—this is where the biggest deals and connections happen!
