NEW YORK and LEAMINGTON, Ontario, June 10, 2025 (GLOBE NEWSWIRE) — Tilray Brands, Inc. (“Tilray” or the “Company”) (Nasdaq: TLRY; TSX: TLRY), a global lifestyle and consumer packaged goods company at the forefront of the beverage, cannabis and wellness industries, today announced that the vote for an amendment of the Company’s Fifth Amended and Restated Certificate of Incorporation, in order to implement a reverse stock split of the Company’s common stock at a ratio ranging from 1-to-10 to 1-to-20 (the “Reverse Stock Split”), passed at the special meeting of stockholders. The Company also announced a pause on the implementation of the newly-authorized reverse stock split while further exploring all options related to timing of the reverse split as it evaluates timing and stock price.
If implemented, the Reverse Stock Split is expected to achieve several objectives, including:
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Ensuring compliance with the Nasdaq Global Select Market’s continued listing requirements
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Aligning the Company’s number of shares outstanding with companies of its size and scope
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Making Tilray more attractive to institutional shareholders
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Reducing expenditures associated with Tilray’s Annual Meeting of Stockholders resulting in up to $1 million in cost savings on an annual run rate basis
Upon implementation of the Reverse Stock Split, the Company believes it would be well positioned for strategic opportunities and acquisitions given its strong balance sheet.
Tilray’s Financial Structure
In the fiscal quarter ended February 28, 2025, Tilray reduced its total debt outstanding by approximately $76 million. Consequently, net debt to trailing twelve-months Adjusted EBITDA is less than 1.0x. Tilray’s balance sheet as of the last fiscal quarter shows a cash and marketable securities balance of approximately $250 million, which provides the Company with financial strength and flexibility to pursue strategic opportunities, accretive acquisitions, invest in our businesses and further reduce outstanding debt.
About Tilray Brands
Tilray Brands, Inc. (“Tilray”) (Nasdaq: TLRY; TSX: TLRY), is a leading global lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia, and Latin America that is leading as a transformative force at the nexus of cannabis, beverage, wellness, and entertainment, elevating lives through moments of connection. Tilray’s mission is to be a leading premium lifestyle company with a house of brands and innovative products that inspire joy and create memorable experiences. Tilray’s unprecedented platform supports over 40 brands in over 20 countries, including comprehensive cannabis offerings, hemp-based foods, and craft beverages.
