DJ Tilray Shares Slide 11% As Post-IPO Lockup Expires -- MarketWatch

Tilray Inc. shares slid x% Tuesday as the lock-up period following its initial public offering expired, allowing executives and other early investors to sell their stock. Majority shareholder Privateer Holdings Inc. has said it is not planning to sell shares in the first half of 2019, but other investors were expected to do so. Coinciding with the expiry, Tilray announced a deal with Authentic Brands Group, (http://www.marketwatch.com/story/tilray-pushes-for-mainstream-retail-exposure-as-post-ipo-lockup-expires-2019-01-15) the owner of brands including Vince Camuto, Juicy Couture and Nine West, to develop and market consumer cannabis brands around the world. As part of the revenue-sharing agreement, Tilray will pay $33 million in cash and $66 million in stock and up to $250 million in cash and stock on changes to regulations in the U.S. and elsewhere; in return for 49% of the net revenue from cannabis products with a guaranteed minimum of up to $10 million each year for 10 years. Tilray shares have gained 31% in 2019 so far, while the S&P 500 has gained 3.5%.

-Ciara Linnane

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January 15, 2019 10:27 ET (15:27 GMT)

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