Summary by Moomoo AI
Canopy Growth Corporation has entered into an Equity Distribution Agreement with BMO Capital Markets Corp. and BMO Nesbitt Burns Inc. to offer and sell common shares up to a value of $250,000,000. This offering allows Canopy Growth to sell its common shares from time to time through the Agents, with the maximum offering size not exceeding $250,000,000. The common shares are listed on the TSX under the symbol 'WEED' and on the Nasdaq Global Select Market under the symbol 'CGC.' The closing price of Canopy Growth's common shares on Nasdaq on June 5, 2024, was $7.81 per share. The sales will be made in 'at the market offerings' as defined in Rule 415(a)(4) under the Securities Act of 1933. The Agents will act as sales agents and will make all sales using commercially reasonable efforts consistent with their normal trading and sales practices. Canopy Growth will pay the Agents a commission of up to 3.0% of the gross sales price of common shares sold under the agreement. The date of the prospectus supplement is June 6, 2024.