Judgement Day Tilray's legal scholars have wisely decided to delay the proposed share increase until December 19th, by which time the Delaware Court of Chancery is expected to rule on whether Tilray's voting process to increase the authorized share count is valid, including the 218 million additional shares authorized in 2023.
Tilray has 199.3 million shares left in the treasury, plus 105 million shares reserved for performance bonuses (see note 1). If the court rules for the plaintiff, Tilray will need to cancel the unreserved treasury shares and buy an additional 18.7 million shares from the open market for cancellation. Don't let Simon steal your shares!
Note 1. Share data is from the Proxy filing dated 09/27/24 and the latest 10-Q dated 07/10/24. If you wish to verify these numbers, you might be confused by the two 10-Q filings dated 07/10/24 on Tilray's website. One is from 2023 and the other is for 2024.