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Tilray Stock Dives 32% on New Stock/Warrant Issue

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Tilray Stock Dives 32% on New Stock/Warrant Issue

Investors are not taking kindly to Tilray's (NASDAQ: TLRY) latest effort at raising capital. The company's stock saw a steep decline of 32% on Friday after announcing a new share issue.

The company is offering 7.25 million shares of its common stock plus 11.75 million warrants to purchase same for those who don't want to opt for the shares just now. Each stock or warrant comes with one "accompanying" warrant.

Image source: Getty Images.

Source Fool.com

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