Tilray Launches $250M At-The-Market Program To Boost Acquisitions, Eyes Expansion With U.S. Cannabis Rescheduling
Tilray Brands, Inc. (NASDAQ:TLRY) (TSX:TLRY), a Canadian medical cannabis giant, announced Friday that it has filed a prospectus supplement with the U.S. Securities and Exchange Commission (SEC), under which it may offer and sell shares of its common stock having an aggregate offering value of up to $250 million from time to time through an at-the-market equity program.
Details Of ATM Program
Under the equity distribution agreement with TD Securities (USA) LLC and Jefferies LLC, Tilray will intermittently sell shares directly on the Nasdaq Global Select Market, among other platforms. This arrangement allows the sale of shares “at-the-market,” which implies sales at prevailing market prices. Such flexibility …