Canopy Growth terminates $30M private placement agreement with institutional investors

Canopy Growth Corp

Agreed to sell 6,993,007 units at $4.29/unit for approx. $30M on Jan 9; terminated Jan 12 due to third-party delays.
Termination was mutual; company states sufficient liquidity via cash on hand, debt facilities, and other sources.
Company expects to report fiscal Q3 results on February 9, 2024.
No securities were sold; no placement fees owed as proceeds not received.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Canopy Growth Corp entered into Subscription Agreements with certain institutional investors valued at approximate gross proceeds of US$30 million (effective 2024-01-09).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional investors
Value: approximate gross proceeds of US$30 million
Effective: 2024-01-09

Exact text from the filing

On January 9, 2024, Canopy Growth Corporation (the “Company”), entered into Subscription Agreements (collectively, the “Subscription Agreements”) with certain institutional investors (collectively, the “Investors”) pursuant to which the Company agreed sell to the Investors an aggregate of 6,993,007 units

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Canopy Growth Corp terminated Subscription Agreements with certain institutional investors (effective 2024-01-12).

Action: termination
Agreement: equity purchase
Counterparty: certain institutional investors
Effective: 2024-01-12

Exact text from the filing

, 2024, Canopy Growth Corporation (the “Company”), entered into Subscription Agreements (collectively, the “Subscription Agreements”) with certain institutional investors (collectively, the “Investors”) pursuant to which the Company agreed

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81 material agreements filed in the last 30 days. Browse all material agreements →

Canopy Growth Corp filing history →

Source: SEC EDGAR

accession 0001104659-24-003768

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