Context
Founded in 2014, Canopy Growth is a world-leading diversified cannabis and hemp company, providing cannabis products for medical and recreational use in dried, oil and Softgel capsule forms.
Canopy Growth runs 10 licensed cannabis production sites with over 2.4 million square feet of production capacity and has operations in 9 countries across 5 continents.
Impressive partnerships with leading sector names including cannabis icon DNA Genetics, Green House seeds, and Fortune 500 alcohol leader Constellation Brands.
With the market in Canada gearing up to fully legalized recreational cannabis use in August this year, management recognized the need to raise funds to capitalize on their current 28% market share to allow for future expansion and growth.
Canopy Growth is listed on the Toronto Stock Exchange (WEED CN) and the New York Stock Exchange (CGC US).
About Canopy Growth Corporation
Canopy Growth is a world-leading diversified cannabis and hemp company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms. From product and process innovation to market execution, Canopy Growth is driven by a passion for leadership and a commitment to building a world-class cannabis company one product, site and country at a time.
Deal Team
Should you want to know more about this transaction, you can contact one of the team members above
Bryan, Garnier & Co acts as Co-manager on Canopy Growth’s benchmark CAD600 million Convertible Bond New Issue
Bryan, Garnier & Co acted as Co-Manager alongside Cowen and BMO who were Global Coordinators and Eight Capital acting as Co-manager.
Canopy Growth raised CAD600 million / EUR327 million / USD384 million (including 15% greenshoe option) in a convertible bond issuance with a maturity of 5 years, a 4.25% coupon and a 25% premium (the tight end of the coupon range – 4.25% to 4.75% – and premium – 20% to 25%).
This transaction marks the 8th Equity Capital Markets transaction for Bryan, Garnier & Co’s Healthcare practice since the beginning of 2018 including: Medartis (CHF142.6 million), Celyad (EUR46.1 million) and Medigene (EUR48.3 million).
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