Tilray Brands Inc (TLRY)

[JohnCM]

Noteholders will have the right to convert their Notes into shares of Tilray’s common stock at their option, at any time, until the close of business on the second scheduled trading day immediately before June 15, 2027. The initial conversion rate is 376.6478 shares per $1,000 principal amount of Notes, which represents an initial conversion price of approximately $2.66 per share. The initial conversion price represents a premium of approximately 12.5% over the last reported sale price of $2.36 per share of Tilray’s common stock on May 25, 2023. The conversion rate and conversion price will be subject to adjustment upon the occurrence of certain events.