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Benzinga

Business

Adam Eckert

Why HEXO Shares Are Trading Higher Today

HEXO Nasdaq HEXO Corp Tilray

HEXO Corp (NASDAQ:HEXO) is trading higher Thursday after the company announced a strategic partnership with Tilray Brands Inc (NASDAQ:TLRY) which includes a new debt financing agreement.

Under the new agreement, Tilray will acquire $211 million of senior secured convertible notes that were originally issued by HEXO. HEXO said the new note terms will enable the company to strengthen its balance sheet and accelerate its transformation into a cash flow positive business within the next four quarters.

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