It has begun.....!As expected & stated. Canopy has started to deal with their massive debt issue (see link below) BEFORE it becomes VERY serious problem and they have liduidity issues. This announcement should of NO surprise to anyone and it should NO surprise that the capital raise are in the form of a covertible issue. A little sneaky & underhanded by mgmt to limit the damge to the stock price & for PR damage control. But very much needed by the company to reduce that massive $1B+ bank debt. I assume some of that will go to reducing that awful debt load.
On the bright side,the terms they received for that financing was favorable compared to what most Cannabis companies have been getting, or most financing in general for highly speculative invesments. The 5% rate is very attractive whereas the average going rates have been into double digits. As encouraging as this recent financing is for Canopy, this amount is not even close to being sufficient to make a serious dent in the company's debt problems. Bit it is a beginning and is suspect there's MUCH more to come in the next 24 months...
https://finance.yahoo.com/news/canopy-growth-announces-us-150-120000850.html
GLTA