Tilray expands credit facility by $45M to $120M and issues 17.1M shares to settle $50M note

Tilray Brands, Inc.

Amended credit agreement increases total loan commitments from $75M to $120M, with $45M in new term and revolving loans.
Proceeds from additional loans will be used for general working capital purposes.
Issued 17,148,541 shares of common stock to HT Investments MA LLC to satisfy $50.0M convertible promissory note.
Share issuance was done under Section 3(a)(9) exemption; no commission paid for soliciting exchange.

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

Tilray Brands, Inc. amended Amended Credit Agreement with Bank of America, N.A., as Administrative Agent valued at $45 million (effective 2023-08-31).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A., as Administrative Agent
Value: $45 million
Effective: 2023-08-31

Exact text from the filing

On August 31, 2023, Four Twenty Corporation (the “Borrower”), a wholly-owned subsidiary of Tilray Brands, Inc., a Delaware corporation (the “Company”), entered into an Amended Credit Agreement (the “Amended Credit Agreement”), together with certain of the Company’s wholly domestic owned subsidiaries (the “Guarantors”), a syndicate of lending institutions from time to time party thereto (the “Lenders”), and Bank of America, N.A., as Administrative Agent (the “Administrative Agent”).

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Tilray Brands, Inc. filing history →

Source: SEC EDGAR

accession 0001140361-23-042396

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