secwatch.observer — SEC 8-K summary
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Issuer:     Canopy Growth Corp (CGC)
CIK:        0001737927
Form:       8-K
Filed at:   2026-01-08T23:59:59+00:00
Accession:  0001104659-26-002134
Event type: other_material
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.03, 3.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Canopy Growth completes US$150M term loan and C$96.4M debenture exchange, pushing all maturities to 2031
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- Term loan net proceeds of US$150M (US$162M principal with OID), interest at Term SOFR +6.25% (floor 3.25%), matures Jan 2031.
- Exchanged C$96.4M of 2029 convertibles for C$55M new 2031 debentures (7.5% coupon), C$10.5M cash, 9.5M shares, and 12.7M warrants (strike C$2.16).
- Issued 18.7M Loan Warrants to lenders at US$1.30 exercise price, 5-year term; proceeds used to repay ~US$101M existing senior secured debt due 2027.
- Expected cash on hand of ~C$425M post-transactions; minimum cash covenant of lesser of US$90M or loan principal.
- Amended MTL Cannabis arrangement: in-the-money warrant holders must deliver notice 2 business days before closing or warrants become out-of-the-money.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1737927/000110465926002134/0001104659-26-002134-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1737927/000110465926002134/tm262514d3_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-002134

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