Tilray exchanges $19.8M of 5.25% convertible notes for 13.1M shares

Tilray Brands, Inc.

Issued up to 13.1M shares of common stock to an unrelated party in exchange for $19.8M aggregate principal of 5.25% Convertible Senior Notes due June 2024.
After the exchange, no 2024 Convertible Notes remain outstanding.
Shares issued in reliance on Section 3(a)(9) exemption; no commission or remuneration paid.
Transaction reduces debt by eliminating the convertible notes, adding dilution of approximately 13.1M shares.

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