Tilray Brands (Nasdaq: TLRY) completed a private debt-for-equity exchange on August 4, 2026, swapping some of its convertible debt for common stock. The company issued 1,377,334 shares of common stock in exchange for $6 million in aggregate principal of its 5.20% Convertible Senior Notes due June 15, 2027. The shares were issued without registration under the Securities Act, relying on the Section 3(a)(9) exemption for exchanges with existing security holders.
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