{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-23-019030","form_type":"8-K","ticker":"TLRY","cik":"0001731348","company_name":"Tilray Brands, Inc.","filed_at":"2023-06-30T23:59:59+00:00","discovered_at":"2026-05-14T18:03:40.282550+00:00","generated_at":"2026-06-13T14:11:49.258711+00:00","sec_items":["1.01","1.02","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Tilray subsidiary Four Twenty Corp enters $75M credit facility, repays existing $80M BMO loan","bullets":["Four Twenty Corp borrowed $70M term loans + $5M revolver from Bank of America-led group on June 30, 2023.","Proceeds repaid $65M term + $15M revolver outstanding under prior BMO facility; net debt reduced ~$5M.","Loans bear interest at SOFR + 1.75%-2.50% (based on leverage); maturity extended to June 30, 2028.","Covenants: fixed charge coverage >=1.25x, leverage <=4.25x stepping down to 3.75x.","Also adjusted covenant terms under ARCA for another Tilray sub (1974568 Ontario) with Bank of Montreal."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-23-019030","json":"https://secwatch.observer/filing/0001437749-23-019030.json","markdown":"https://secwatch.observer/filing/0001437749-23-019030.md","text":"https://secwatch.observer/filing/0001437749-23-019030.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1731348/000143774923019030/0001437749-23-019030-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1731348/000143774923019030/tlry20230630_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T14:11:49.258711+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"f14412b9d607de32cbf507a0c6b86ca8f99d821d","claim":"Tilray Brands, Inc. incurred credit facility of $75 million with Bank of America, N.A., as Administrative Agent at With respect to any Loans whose interest is determined by reference to the SOFR maturing June 30, 2028.","evidence_excerpt":"On June 30, 2023, Four Twenty Corporation (the \"Borrower\"), a wholly owned subsidiary of Tilray Brands, Inc., a Delaware corporation (the \"Company\"), entered into a Credit Agreement (the \"Credit Agreement\"), together with certain of the Company’s wholly domestic owned subsidiaries (the \"Guarantors\"), a syndicate of lending institutions from time to time party thereto (the \"Lenders\"), and Bank of America, N.A., as Administrative Agent (the \"Administrative Agent\"). Pursuant to the Credit Agreement, the Guarantors have guaranteed the obligations of the Borrower under the Credit Agreement. The Credit Agreement provides for a total aggregate principal amount of $75 million, consisting of term loans in an aggregate principal amount of $70.0 million (the \"Term Loans\") and revolving loan commitments (the \"Revolving Loan Commitments\") in an aggregate principal amount of $5.0 million","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1731348/000143774923019030/0001437749-23-019030-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$75 million"},{"label":"Counterparty","value":"Bank of America, N.A., as Administrative Agent"},{"label":"Rate","value":"With respect to any Loans whose interest is determined by reference to the SOFR"},{"label":"Maturity","value":"June 30, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"6318c17c4932dbe7097d3f55d9fa3373a32f6a6b","claim":"Tilray Brands, Inc. entered into Credit Agreement with Bank of America, N.A., as Administrative Agent and the Lenders valued at $75 million (effective 2023-06-30).","evidence_excerpt":"On June 30, 2023, Four Twenty Corporation (the “Borrower”), a wholly owned subsidiary of Tilray Brands, Inc., a Delaware corporation (the “Company”), entered into a Credit Agreement (the “Credit Agreement”), together with certain of the Company’s wholly domestic owned subsidiaries (the “Guarantors”), a syndicate of lending institutions from time to time party thereto (the “Lenders”), and Bank of America, N.A., as Administrative Agent (the “Administrative Agent”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1731348/000143774923019030/0001437749-23-019030-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Bank of America, N.A., as Administrative Agent and the Lenders"},{"label":"Value","value":"$75 million"},{"label":"Effective","value":"2023-06-30"}],"fact_type":"material_agreement"},{"claim_id":"64d487f537ac89facf989a7cc1674d2e27e0ad38","claim":"Tilray Brands, Inc. terminated Existing Credit Agreement with Bank of Montreal, as agent, and a syndicate of lenders (effective 2023-06-30).","evidence_excerpt":"On June 30, 2023, the Borrower borrowed $70.0 million of Term Loans and $5.0 million of Revolving Loans under the Credit Agreement to repay in full all outstanding obligations under and terminate that certain Credit Agreement, dated as of December 8, 2020, by and among the Borrower, the guarantors named therein, Bank of Montreal, as agent, and a syndicate of lenders (as amended, the “Existing Credit Agreement”), which was scheduled to mature on December 8, 2023.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1731348/000143774923019030/0001437749-23-019030-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"termination"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Bank of Montreal, as agent, and a syndicate of lenders"},{"label":"Effective","value":"2023-06-30"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}