---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-181342"
form_type: "8-K"
ticker: "CGC"
cik: "0001737927"
company_name: "Canopy Growth Corp"
filed_at: "2023-07-03T23:59:59+00:00"
generated_at: "2026-06-13T13:20:39.105671+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Canopy Growth equitizes C$12.5M of 4.25% notes due July 2023, issuing 24.3M shares

## Summary
- Exchanged C$12.5M aggregate principal of 4.25% Convertible Senior Notes due 2023 for cash and 24,342,740 common shares.
- Shares issued at 80% of five-day VWAP (C$0.5135 per share); notes cancelled upon closing on June 30, 2023.
- Transaction conducted as a private placement under Section 4(a)(2) of the Securities Act.
- CFO Judy Hong stated the equitization strengthens Canopy's financial position and provides additional flexibility.
- HudsonWest LLC acted as financial advisor to the Company.

## SEC filing metadata
- accession: 0001193125-23-181342
- form_type: 8-K
- ticker: CGC
- cik: 0001737927
- company_name: Canopy Growth Corp
- filed_at: 2023-07-03T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1737927/000119312523181342/0001193125-23-181342-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1737927/000119312523181342/d506480d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-181342
- JSON: https://secwatch.observer/filing/0001193125-23-181342.json
- Plain text: https://secwatch.observer/filing/0001193125-23-181342.txt

## Key facts
- Material Agreements
  Canopy Growth Corp entered into Exchange Agreements with certain holders valued at C$12.5 million aggregate principal amount of the Notes (effective 2023-06-29).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: certain holders
  - Value: C$12.5 million aggregate principal amount of the Notes
  - Effective: 2023-06-29
  source text: On June 29, 2023, Canopy Growth Corporation (the “Company”) entered into five privately negotiated exchange agreements (collectively, the “Exchange Agreements”) with certain holders (the “Holders”) of its 4.25% Convertible Senior Notes due 2023 (the “Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1737927/000119312523181342/0001193125-23-181342-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.