RE:Don't Let the Shorts Steal Your SharesThe sky is falling
StraightForwardU:
"Why do an offering to pay for debt and open new loan if you have money on hand to pay it off? Do you really have the 400M as you stated?"
Carl Merton: "Thanks for the question StraightForwardU. Please read my intro for the answer to the first part of your question. As part of the press release we issued on Thursday night announcing the pricing of the deal (the second of the two releases), we confirmed that proforma for the convertible offering we currently had approximately $440 million of cash and marketable securities on hand."
Notice the word "proforma", which means hypothetically, and the grammatically incorrect phrase "we currently had".
From the Nov 2022 10-Q
cash and cash equivalents = $190 million
marketable securities = $ 243 million
Hexo convertible notes = $148 million
Medmen convertible notes = $107 million
With the acquisition of Hexo, the convertible notes have a marketable value of $0.
The marketable value of the Medmen notes is unlikely to be anywhere close to what Tilray paid. But, yeah OK, hypothetically Tilray currently had $440 million. If they actually have $190 million they might keep the lights on till the end of they year, unless Simon buys more adjacencies.