Tilray Brands launches $250M ATM equity program to fund acquisitions, targeting U.S. cannabis rescheduling

Tilray Brands, Inc.

May offer and sell up to $250M of common stock through TD Securities and Jefferies in at-the-market offerings.
Net proceeds intended to fund strategic and accretive acquisitions, not general working capital.
Company aims to capitalize on expected U.S. cannabis rescheduling and expansion opportunities.
Sales will be made at prevailing market prices; no obligation to sell any shares.
Existing shelf registration statement (Form S-3) effective since October 2022; prospectus supplement filed May 17, 2024.

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. entered into Equity Distribution Agreement with TD Securities (USA) LLC and Jefferies LLC valued at up to $250,000,000 (effective 2024-05-17).

Action: entry
Agreement: atm program
Counterparty: TD Securities (USA) LLC and Jefferies LLC
Value: up to $250,000,000
Effective: 2024-05-17

Exact text from the filing

On May 17, 2024 , Tilray Brands, Inc. (the “ Company ” or “ Tilray ”) entered into an equity distribution agreement (the “ Equity Distribution Agreement ”) with TD Securities (USA) LLC and Jefferies LLC

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Tilray Brands, Inc. filing history →

Source: SEC EDGAR

accession 0001140361-24-026595

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