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Benzinga
Benzinga
Business
Adam Eckert

BIZARRE: Why canopy growth stock is getting smoked today - What They Never Told You

Canopy Growth Canopy Canopy Growth Corp

Canopy Growth Corp (NASDAQ:CGC) shares are trading lower Thursday after the company announced it entered into exchange agreements with holders of approximately $198 million of convertible notes.

Constellation Brands Inc (NYSE:STZ) is participating in the transaction through its subsidiary Greenstar Canada. The company will acquire a minimum of 21,929,914 Canopy shares, up to 30,701,880 shares pursuant to the exchange agreement.

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