Tilray Brands Inc TLRY shares are trading lower by 6.28% to $1.72 Wednesday morning on continued downward momentum after the company last week announced pricing of a registered offering of $150 million of unsecured convertible senior notes.
Tilray also expects to grant underwriters a 30-day option to purchase up to an additional $22.5 million of notes to cover over-allotments.
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The completion of the offering is subject to market conditions, with no assurance of its completion, size or terms.
The net proceeds will be used to repurchase outstanding Convertible Senior Notes and for general corporate purposes.
According to data from Benzinga Pro, TLRY has a 52-week high of $5.12 and a 52-week low of $1.69.
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