Canopy Growth Corp (WEED)

[OnlyGoLong]

Maybe this is why STZ sold some wine to get cash? They can just buy for cheaper on the open market, and then cancel 20 million of the 76.68 priced warrants.

“Constellation would be permitted to purchase up to 20 million Canopy shares in the open market prior to the warrants being exercised or terminated, provided that for each share purchased by Constellation, the number of Tranche B warrants is decreased by one.”

“51.2 million Tranche B warrants, of which 38.4 million, or 75 percent, are exercisable at a price per share of C$76.68”

So they can buy 20 million of the 38.4 million on open market for current market price , then execute the remaining 18.4 million at 76.68 when necessary.....

This also keeps our float down 20 million, and increases buying pressure for open market shares.....