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[8-K] Tilray Brands, Inc. Reports Material Event

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

Tilray Brands (Nasdaq: TLRY) filed a Form 8-K reporting a private debt-for-equity exchange completed on June 16 2025 under Item 3.02.

The company exchanged $5 million principal of its 5.20% Convertible Senior Notes due 2027 for 12,591,816 newly issued common shares. The transaction was executed with a single, unrelated holder and relied on the Securities Act Section 3(a)(9) exemption, so the shares were issued without SEC registration and no commissions were paid.

The exchange immediately reduces outstanding debt and future interest expense but increases the public float, creating potential dilution for existing shareholders. The disclosed figures imply an exchange price of roughly $0.40 per share, though the filing does not comment on market pricing.

No other material events, financial statements, legal proceedings, or risk factors were included in this report.

Tilray Brands (Nasdaq: TLRY) ha presentato un modulo 8-K comunicando uno scambio privato di debito in azioni completato il 16 giugno 2025 ai sensi del punto 3.02.

L'azienda ha convertito un debito principale di 5 milioni di dollari relativo alle sue Note Senior Convertibili al 5,20% con scadenza 2027 in 12.591.816 nuove azioni ordinarie. L'operazione è stata effettuata con un unico detentore non correlato, avvalendosi dell'esenzione prevista dalla Sezione 3(a)(9) del Securities Act, pertanto le azioni sono state emesse senza registrazione presso la SEC e senza il pagamento di commissioni.

Lo scambio riduce immediatamente il debito residuo e gli interessi futuri, ma aumenta il flottante pubblico, creando una possibile diluizione per gli azionisti esistenti. I dati divulgati implicano un prezzo di scambio di circa 0,40 dollari per azione, anche se il documento non fornisce commenti sul prezzo di mercato.

Nel rapporto non sono stati inclusi altri eventi rilevanti, bilanci, procedimenti legali o fattori di rischio.

Tilray Brands (Nasdaq: TLRY) presentó un Formulario 8-K informando sobre un intercambio privado de deuda por acciones completado el 16 de junio de 2025 bajo el punto 3.02.

La empresa intercambió 5 millones de dólares de principal de sus Notas Senior Convertibles al 5,20% con vencimiento en 2027 por 12,591,816 acciones comunes recién emitidas. La transacción se realizó con un único titular no relacionado y se basó en la exención de la Sección 3(a)(9) de la Ley de Valores, por lo que las acciones se emitieron sin registro ante la SEC y sin pago de comisiones.

El intercambio reduce inmediatamente la deuda pendiente y los gastos futuros por intereses, pero aumenta el flotante público, generando una posible dilución para los accionistas existentes. Las cifras divulgadas sugieren un precio de intercambio de aproximadamente 0,40 dólares por acción, aunque el informe no comenta sobre el precio de mercado.

No se incluyeron otros eventos materiales, estados financieros, procesos legales ni factores de riesgo en este informe.

틸레� 브랜�(Tilray Brands, 나스�: TLRY)� 2025� 6� 16� 완료� 비공� 채무-주식 교환� 대� 항목 3.02� 따라 Form 8-K� 제출했습니다.

회사� 2027� 만기 5.20% 전환 선순� 채권� 원금 500� 달러12,591,816주의 신주 보통�� 교환했습니다. � 거래� 단일� 무관� 보유자와 체결되었으며, 증권� 섹션 3(a)(9) 면제� 근거� 하여 주식은 SEC 등록 없이 발행되었� 수수료도 지급되지 않았습니�.

이번 교환은 즉시 미상� 부채와 향후 이자 비용� 줄이지�, 공공 유통 주식 수를 늘려 기존 주주들에� 잠재적인 희석 효과� 발생시킵니다. 공개� 수치� 주당 � 0.40달러� 교환 가격을 의미하나, 제출 문서에서� 시장 가격에 대� 언급하지 않았습니�.

� 보고서에� 기타 중요� 사건, 재무제표, 법적 절차 또는 위험 요소가 포함되지 않았습니�.

Tilray Brands (Nasdaq : TLRY) a déposé un formulaire 8-K rapportant un échange privé de dette contre actions réalisé le 16 juin 2025 conformément à l'article 3.02.

La société a échangé un principal de 5 millions de dollars de ses billets convertibles senior à 5,20 % échéant en 2027 contre 12 591 816 actions ordinaires nouvellement émises. La transaction a été conclue avec un seul détenteur non lié et s'est appuyée sur l'exemption de la section 3(a)(9) du Securities Act, de sorte que les actions ont été émises sans enregistrement auprès de la SEC et sans paiement de commissions.

Cet échange réduit immédiatement la dette en circulation et les charges d'intérêts futures, mais augmente le flottant public, créant une dilution potentielle pour les actionnaires existants. Les chiffres divulgués impliquent un prix d'échange d'environ 0,40 $ par action, bien que le dépôt ne commente pas le prix du marché.

Aucun autre événement important, états financiers, procédures judiciaires ou facteurs de risque n'ont été inclus dans ce rapport.

Tilray Brands (Nasdaq: TLRY) reichte ein Formular 8-K ein, in dem ein privater Schulden-gegen-Aktien-Tausch gemeldet wurde, der am 16. Juni 2025 gemäß Punkt 3.02 abgeschlossen wurde.

Das Unternehmen tauschte 5 Millionen US-Dollar Nennwert seiner 5,20 % Wandelanleihen mit Fälligkeit 2027 gegen 12.591.816 neu ausgegebene Stammaktien. Die Transaktion wurde mit einem einzigen, nicht verbundenen Inhaber durchgeführt und stützte sich auf die Ausnahmeregelung nach Abschnitt 3(a)(9) des Securities Act, sodass die Aktien ohne SEC-Registrierung ausgegeben wurden und keine Provisionen gezahlt wurden.

Der Tausch reduziert sofort die ausstehenden Schulden und zukünftigen Zinsaufwand, erhöht jedoch den Streubesitz, was eine potenzielle Verwässerung für bestehende Aktionäre darstellt. Die offengelegten Zahlen deuten auf einen Umtauschpreis von etwa 0,40 US-Dollar pro Aktie hin, obwohl die Einreichung keine Angaben zur Marktpreisgestaltung macht.

Weitere wesentliche Ereignisse, Finanzberichte, Rechtsstreitigkeiten oder Risikofaktoren wurden in diesem Bericht nicht aufgeführt.

Positive
  • Debt reduction: Retired $5 million principal of 5.20% Convertible Senior Notes, lowering future interest expense.
Negative
  • Dilution: Issued 12.59 million new shares, immediately increasing the share count and potentially pressuring per-share metrics.

Insights

TL;DR: Modest deleveraging offset by dilution; balance-sheet impact limited.

Debt reduction: Retiring $5 million of 5.20% notes lowers ongoing interest (~$0.26 million annually) and trims 2027 maturity exposure. Dilution cost: 12.6 million new shares enlarge equity base; exact percentage cannot be calculated from the filing but will increase share count immediately. Valuation signal: An implied $0.40 exchange price suggests the noteholder accepted equity at a discount; however, management provides no commentary on pricing rationale or relative market levels. Materiality: Scale appears small relative to Tilray’s historical financing rounds, so overall leverage and liquidity profile are not radically changed. Net impact = neutral.

TL;DR: Share issuance increases float, minimal governance concerns identified.

The Section 3(a)(9) exemption avoids registration, expediting balance-sheet cleanup while keeping compliance costs low. Dilution is the primary governance consideration; minority holders receive no voting approval opportunity because NYSE/Nasdaq rules allow private exchanges below 20% thresholds. Absence of board commentary on strategic intent leaves shareholders without context on future capital-structure plans. No change in control provisions triggered, and no insider participation disclosed, reducing conflict-of-interest risk. Overall governance impact is limited but transparency could be better.

Tilray Brands (Nasdaq: TLRY) ha presentato un modulo 8-K comunicando uno scambio privato di debito in azioni completato il 16 giugno 2025 ai sensi del punto 3.02.

L'azienda ha convertito un debito principale di 5 milioni di dollari relativo alle sue Note Senior Convertibili al 5,20% con scadenza 2027 in 12.591.816 nuove azioni ordinarie. L'operazione è stata effettuata con un unico detentore non correlato, avvalendosi dell'esenzione prevista dalla Sezione 3(a)(9) del Securities Act, pertanto le azioni sono state emesse senza registrazione presso la SEC e senza il pagamento di commissioni.

Lo scambio riduce immediatamente il debito residuo e gli interessi futuri, ma aumenta il flottante pubblico, creando una possibile diluizione per gli azionisti esistenti. I dati divulgati implicano un prezzo di scambio di circa 0,40 dollari per azione, anche se il documento non fornisce commenti sul prezzo di mercato.

Nel rapporto non sono stati inclusi altri eventi rilevanti, bilanci, procedimenti legali o fattori di rischio.

Tilray Brands (Nasdaq: TLRY) presentó un Formulario 8-K informando sobre un intercambio privado de deuda por acciones completado el 16 de junio de 2025 bajo el punto 3.02.

La empresa intercambió 5 millones de dólares de principal de sus Notas Senior Convertibles al 5,20% con vencimiento en 2027 por 12,591,816 acciones comunes recién emitidas. La transacción se realizó con un único titular no relacionado y se basó en la exención de la Sección 3(a)(9) de la Ley de Valores, por lo que las acciones se emitieron sin registro ante la SEC y sin pago de comisiones.

El intercambio reduce inmediatamente la deuda pendiente y los gastos futuros por intereses, pero aumenta el flotante público, generando una posible dilución para los accionistas existentes. Las cifras divulgadas sugieren un precio de intercambio de aproximadamente 0,40 dólares por acción, aunque el informe no comenta sobre el precio de mercado.

No se incluyeron otros eventos materiales, estados financieros, procesos legales ni factores de riesgo en este informe.

틸레� 브랜�(Tilray Brands, 나스�: TLRY)� 2025� 6� 16� 완료� 비공� 채무-주식 교환� 대� 항목 3.02� 따라 Form 8-K� 제출했습니다.

회사� 2027� 만기 5.20% 전환 선순� 채권� 원금 500� 달러12,591,816주의 신주 보통�� 교환했습니다. � 거래� 단일� 무관� 보유자와 체결되었으며, 증권� 섹션 3(a)(9) 면제� 근거� 하여 주식은 SEC 등록 없이 발행되었� 수수료도 지급되지 않았습니�.

이번 교환은 즉시 미상� 부채와 향후 이자 비용� 줄이지�, 공공 유통 주식 수를 늘려 기존 주주들에� 잠재적인 희석 효과� 발생시킵니다. 공개� 수치� 주당 � 0.40달러� 교환 가격을 의미하나, 제출 문서에서� 시장 가격에 대� 언급하지 않았습니�.

� 보고서에� 기타 중요� 사건, 재무제표, 법적 절차 또는 위험 요소가 포함되지 않았습니�.

Tilray Brands (Nasdaq : TLRY) a déposé un formulaire 8-K rapportant un échange privé de dette contre actions réalisé le 16 juin 2025 conformément à l'article 3.02.

La société a échangé un principal de 5 millions de dollars de ses billets convertibles senior à 5,20 % échéant en 2027 contre 12 591 816 actions ordinaires nouvellement émises. La transaction a été conclue avec un seul détenteur non lié et s'est appuyée sur l'exemption de la section 3(a)(9) du Securities Act, de sorte que les actions ont été émises sans enregistrement auprès de la SEC et sans paiement de commissions.

Cet échange réduit immédiatement la dette en circulation et les charges d'intérêts futures, mais augmente le flottant public, créant une dilution potentielle pour les actionnaires existants. Les chiffres divulgués impliquent un prix d'échange d'environ 0,40 $ par action, bien que le dépôt ne commente pas le prix du marché.

Aucun autre événement important, états financiers, procédures judiciaires ou facteurs de risque n'ont été inclus dans ce rapport.

Tilray Brands (Nasdaq: TLRY) reichte ein Formular 8-K ein, in dem ein privater Schulden-gegen-Aktien-Tausch gemeldet wurde, der am 16. Juni 2025 gemäß Punkt 3.02 abgeschlossen wurde.

Das Unternehmen tauschte 5 Millionen US-Dollar Nennwert seiner 5,20 % Wandelanleihen mit Fälligkeit 2027 gegen 12.591.816 neu ausgegebene Stammaktien. Die Transaktion wurde mit einem einzigen, nicht verbundenen Inhaber durchgeführt und stützte sich auf die Ausnahmeregelung nach Abschnitt 3(a)(9) des Securities Act, sodass die Aktien ohne SEC-Registrierung ausgegeben wurden und keine Provisionen gezahlt wurden.

Der Tausch reduziert sofort die ausstehenden Schulden und zukünftigen Zinsaufwand, erhöht jedoch den Streubesitz, was eine potenzielle Verwässerung für bestehende Aktionäre darstellt. Die offengelegten Zahlen deuten auf einen Umtauschpreis von etwa 0,40 US-Dollar pro Aktie hin, obwohl die Einreichung keine Angaben zur Marktpreisgestaltung macht.

Weitere wesentliche Ereignisse, Finanzberichte, Rechtsstreitigkeiten oder Risikofaktoren wurden in diesem Bericht nicht aufgeführt.

false 0001731348 0001731348 2025-06-16 2025-06-16
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
 
FORM 8-K
 
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 16, 2025
 
 
Tilray Brands, Inc.
(Exact name of Registrant as Specified in Its Charter)
 
 
Delaware
001-38594
82-4310622
(State or Other Jurisdiction
(Commission File
(IRS Employer
of Incorporation)
Number)
Identification No.)
     
265 Talbot Street West,
   
Leamington, ON
 
N8H 5L4
(Address of Principal Executive Offices,
 
(Zip Code)
 
(844) 845-7291
 
Not applicable
(Former Name or Former Address, if Changed Since Last Report)
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class
Trading
Name of each exchange on which registered
 
Symbol(s)
 
Common Stock, $0.0001 par
TLRY
 
value per share
 
The Nasdaq Global Select Market
     
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
 
Emerging growth company
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 
 

 
 
Item 3.02             Unregistered Sales of Equity Securities.
 
Tilray Brands, Inc. (the “Company”) has entered into a private debt-for-equity exchange transaction (the “Exchange Transaction”) with an unrelated party.  Pursuant to the Exchange Transaction, the Company issued 12,591,816 shares of the Company’s common stock, par value $0.0001 per share (“Common Stock”), in exchange for $5 million principal amount of the Company’s 5.20% Convertible Senior Notes due June 1, 2027.
 
The shares of Common Stock issued in the Exchange Transaction were issued without registration under the Securities Act of 1933, as amended (the “Securities Act”), in reliance on the exemption provided by Section 3(a)(9) of the Securities Act as securities exchanged by the Company with an existing security holder where no commission or other remuneration was paid or given directly or indirectly for soliciting such exchange.
 
 

 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
Tilray Brands, Inc.
Date: June 23, 2025                                                                                     
By: /s/ Mitchell Gendel
Name: Mitchell Gendel
Title: Global General Counsel
 
 

FAQ

How many shares did TLRY issue in the June 2025 debt-for-equity exchange?

Tilray issued 12,591,816 common shares to the noteholder.

What amount of debt did TLRY retire through this exchange?

The company cancelled $5 million principal of its 5.20% Convertible Senior Notes due 2027.

Were the new TLRY shares registered with the SEC?

No. The shares were issued under Securities Act Section 3(a)(9) and therefore not registered.

Does the filing mention any cash paid or commissions for the exchange?

No. Tilray stated no cash, commissions, or other remuneration were paid for soliciting the exchange.

Will TLRY shareholders vote on this transaction?

The filing indicates no shareholder vote is required because the exchange falls under allowed private transaction thresholds.
TILRAY BRANDS INC

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