Tilray converts $19.8M of 2024 convertible notes to 13.1M shares; only $330K notes remaining

Tilray Brands, Inc.

Expects to issue up to 13.1M shares of common stock in exchange for $19.8M aggregate principal of 5.25% Convertible Senior Notes due June 1, 2024.
After exchange, only $330,000 in principal amount of the 2024 Convertible Notes remain outstanding (down from $20.13M pre-transaction).
Shares issued in reliance on Section 3(a)(9) exemption; no commission paid for solicitation.
Transaction with an unrelated party; reduces near-term debt maturity exposure on June 1, 2024 notes.

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