other_material
confidence high
sentiment negative
materiality 1.00
TILT Holdings files for CCAA creditor protection, plans to go private by equity cancellation for noteholders
TILT Holdings Inc.
- Entered CCAA creditor protection in British Columbia; stay of proceedings granted; PwC appointed monitor.
- Issued up to $2M in senior secured bridge notes (10% interest, maturity June 2026) from existing noteholders.
- Plan to take company private by cancelling all equity and issuing new shares to noteholders; hearing for vote on Nov 17.
- Expects delisting from Cboe Canada and OTCID; will cease public reporting.
- Related parties: Mark Scatterday (21.99% owner, $990k notes), Robert Crompton (7.4%, $350k notes) involved.