secwatch.observer — SEC 8-K summary
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Issuer:     Canopy Growth Corp (CGC)
CIK:        0001737927
Form:       8-K
Filed at:   2023-02-21T23:59:59+00:00
Accession:  0001193125-23-043517
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Canopy Growth raises up to $150M via convertible debentures; initial $100M tranche closed
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- Initial $100M tranche of 5% convertible senior unsecured debentures closed; second $50M tranche subject to conditions.
- Interest and principal payable only in common shares; no cash payments ever.
- Conversion price set at 92.5% of 3-day VWAP prior to conversion; maturity Feb 28, 2028.
- Net proceeds ~$95M from initial tranche for working capital and general corporate purposes.
- Issuance capped at 19.99% of outstanding shares (98.9M shares as of Feb 17, 2023); second tranche requires VWAP > $2.00.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1737927/000119312523043517/0001193125-23-043517-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1737927/000119312523043517/d410050d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-043517

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