Tilray Brands, Inc. (TLRY) shares are sliding more than 20 percent on Friday morning trade after the company announced the pricing of a registered offering of $150 million of Unsecured Convertible Senior Notes.
The offering is expected to close on May 31, 2023. Tilray also granted a 30-day option to the underwriters of the Notes offering to purchase up to an additional $22.5 million aggregate principal amount of Notes.
Currently, shares are at $1.87, down 20.76 percent from the previous close of $2.36 on a volume of 32,469,007.
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