On May 13, 2024, Tilray Brands, Inc. completed a private debt-for-equity exchange transaction with an unrelated party. The company issued 13.1 million shares of its common stock in exchange for $19.8 million of its 5.25% Convertible Senior Notes due June 1, 2024. This transaction resulted in the full settlement of the outstanding 2024 Convertible Notes as of May 14, 2024. The shares were issued pursuant to an exemption from registration under the Securities Act of 1933, based on Section 3(a)(9), which allows for exchanges with existing security holders without payment of commission.

On May 13, 2024, Tilray Brands, Inc. completed a private debt-for-equity exchange transaction with an unrelated party. The company issued 13.1 million shares of its common stock in exchange for $19.8 million of its 5.25% Convertible Senior Notes due June 1, 2024. This transaction resulted in the full settlement of the outstanding 2024 Convertible Notes as of May 14, 2024. The shares were issued pursuant to an exemption from registration under the Securities Act of 1933, based on Section 3(a)(9), which allows for exchanges with existing security holders without payment of commission.