Canopy Growth Corporation (NASDAQ:CGC) entered into an additional privately negotiated exchange agreement on Friday with a holder of the company's outstanding 4.25% unsecured senior notes due in 2023, to acquire approximately CA$7.25 million ($5.6 million) aggregate principal amount of the notes from the noteholders in exchange for common shares of the company and approximately CA$140,000 ($110,000) in cash for accrued and unpaid interest.
The news comes on the heels of Canopy expanding its cannabis beverage portfolio, launching its new Just Hits Different brand campaign and entering into exchange agreements with holders of approximately $198 million of convertible notes. The latter sent the stock down 21.7%.
