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Tilray Raises Debt Offering to $450M and Prices Convertible Senior Notes

Canadian cannabis company Tilray Inc. (TLRY) announced that it upsized its debt offering to $450 million from $400 million while also pricing the offering of the convertible senior notes due 2023.

Tilray shares were up 0.65% after rising 4.3% in premarket trading.

Tilray also granted the initial purchasers of the notes an option to buy an additional $67.5 million aggregate principal amount of notes. The sale of the notes to the initial purchasers will be settled on Oct. 10.

The company expects to raise $435 million from the that offering.

While Tilray shares jumped, shares of India Globalization Capital Inc. (IGC) fell 26.24% though there was no news prompting the decline. The stock fell 27.57% during Thursday’s session.