What's Going On With Tilray Stock Tuesday?

Zinger Key Points
  • Tilray says it entered into a private debt-for-equity exchange transaction with an unrelated party.
  • After giving effect to the exchange transaction, there are no 2024 Convertible Notes that remain outstanding as of Tuesday.
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Tilray Brands Inc TLRY shares are trading higher. The company on Tuesday announced a private debt-for-equity deal.

What Happened: In a new regulatory filing, Tilray said it entered into a private debt-for-equity exchange transaction with an unrelated party. The company expects to issue an aggregate of up to 13.1 million shares in exchange for $19.8 million aggregate principal amount of its 5.25% Convertible Senior Notes due June 1, 2024.

Tilray said after giving effect to the exchange transaction, there are no 2024 Convertible Notes that remain outstanding as of Tuesday.

Separately, Tilray subsidiary Breckenridge Brewery and 97.3 KBCO (iHeartMedia-Denver) announced the next “On Top with KBCO” event featuring live music at the Breckenridge Brewery in Littleton on Sept. 7. The charity concert series benefits Project C.U.R.E., which has grown to be the largest provider of donated medical supplies and equipment to some of the toughest places in the world. 

Check This Out: Analysts May Need To Revise Cannabis Stock Projections For 2024: 10 Companies Surpass EBITDA Estimates By $37M

How To Buy TLRY Stock

By now you're likely curious about how to participate in the market for Tilray Brands – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. In the case of Tilray, which is trading at $2.17 as of publishing time, $100 would buy you 46.08 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

TLRY Price Action: Tilray shares were up 8.04% at $2.15 at the time of publication, according to Benzinga Pro.

Photo: Erin Stone from Pixabay.

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