secwatch.observer — SEC 8-K summary
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Issuer:     Canopy Growth Corp (CGC)
CIK:        0001737927
Form:       8-K
Filed at:   2023-07-14T23:59:59+00:00
Accession:  0001104659-23-081000
Event type: regulatory
Sentiment:  negative
Materiality: 0.75
Item codes: 3.01
LLM model:  deepseek-v4-flash:cloud@v2

Canopy Growth receives Nasdaq deficiency notice for bid price below $1.00; proposes reverse stock split
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- Nasdaq notified Canopy Growth on July 11, 2023 that closing bid price was below $1.00 for 30 consecutive business days.
- Company has 180 calendar days (until Jan 8, 2024) to regain compliance by closing at $1.00 for 10 consecutive business days.
- Plans to seek shareholder approval at Sep 25, 2023 annual meeting for reverse stock split at ratio of 5:1 to 15:1.
- Failure to regain compliance may result in additional 180-day period if transferred to Nasdaq Capital Market, or eventual delisting.
- Common shares continue trading on Nasdaq and TSX; TSX compliance unaffected.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1737927/000110465923081000/0001104659-23-081000-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1737927/000110465923081000/tm2320057d5_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-081000

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