Tilray to issue up to 21M shares in exchange for $22M in convertible notes

Tilray Brands, Inc.

Issues up to 21M common shares for $22M aggregate principal of 5.20% Convertible Senior Notes due 2027.
Transactions executed privately under Section 3(a)(9) exemption from January 28 to February 5, 2025.
Reduces debt by $22M, lowering future interest obligations on the 5.20% notes.
Dilution impact: up to 21M new shares, ~3% of current outstanding (based on ~700M shares).

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