other_material
confidence high
sentiment negative
materiality 1.00
TILT Holdings files for CCAA creditor protection, plans to take company private
TILT Holdings Inc.
- Filed for CCAA creditor protection in British Columbia Supreme Court; PwC appointed monitor.
- Intends to cancel all existing equity and issue new shares to senior noteholders, taking company private.
- Issued up to US$2.0M in bridge notes (10% funded rate, maturity June 2026) from existing noteholders including related parties (Scatterday, Crompton, Draizin).
- Trading halted on Cboe Canada and OTCID; expects delisting and end of public reporting.
- CEO Tim Conder states restructuring will reduce public company expenses ~$2.5M annually; Jupiter founder Mark Scatterday returns full-time.