Friday, September 12, 2025

Tilray Quietly Announces US$400 Million At-The-Market Financing

Tilray Brands (TSX: TLRY) this morning attempted to quietly announce that it will be conducting a large at-the-market equity offering. The details of the financing were included at the tail end of a press release that focused on highlighting a strategic alliance with rival cannabis producer Hexo Corp (TSX: HEXO).

The financing will see the company look to raise gross proceeds of up to US$400 million, which is to be raised via direct sales on the markets. The program is to be conducted by both Canaccord Genuity and Jefferies LLC, with sales to be made via the Nasdaq Global Select Market.

It is currently believed that the Toronto Stock Exchange will not be used to facilitate such sales, with the prospectus supplement only said to have been filed with the US Securities and Exchange Commission.

Proceeds from the ATM program are slated to be used to strengthen the firms balance sheet, and to fund accretive acquisitions. Of course, the company highlighted that such acquisitions may include “potential acquisitions of cannabis assets upon federal permissibility.”

Sales under the program are to be made at currently prevailing market prices.

As of November 30, 2021, Tilray Brands had a cash position of US$331.8 million.

Tilray Brands last traded at $7.35 on the TSX.


Information for this briefing was found via Edgar and Tilray. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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