Tilray converts $12.54M of convertible notes into 6.87M shares

Tilray Brands, Inc.

Issued 6,873,001 common shares in exchange for $12,540,000 principal of 5.25% Convertible Senior Notes due June 2024.
Transactions occurred between Jan 10 and Jan 31, 2024, with unrelated parties under Section 3(a)(9) exemption.
No commissions or remuneration paid; debt reduction of $12.54M but diluted share count by ~6.9M.
Notes originally carried 5.25% coupon and were due June 1, 2024; conversion reduces near-term maturity risk.

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