Canopy Growth Initiates $200 Million At-The-Market Equity Program

LOS ANGELES- Canopy Growth Corporation has established a new at-the-market (ATM) equity program, enabling the company to issue and sell up to $200 million in common shares across U.S. and Canadian markets.

The company intends to utilize the net proceeds from this program for general corporate purposes, including debt repayment, enhancing cash reserves, and potential strategic acquisitions or mergers.

Following the announcement, Canopy Growth’s stock experienced a decline, reaching an all-time low of $1.26 per share, a 9% drop.

In its recent financial disclosures, Canopy Growth reported a net loss of C$121.9 million for the third quarter, with revenues decreasing by 5% to C$74.76 million.

The ATM program offers Canopy Growth flexibility in raising capital, allowing the company to issue shares at prevailing market prices over time, thereby minimizing immediate market impact.​