Company: CGC
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085662
Chunk: 18

Company: Canopy Growth Corp
Filing Date: 2025-08-29
Form: 424B5
Chunk 18
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 2026.

The precise amount, timing of the application, and allocation of the net proceeds of this offering and the Concurrent Canadian Offering will depend upon a number of factors, including future developments in the Company’s business operations, such as the costs and timing of commercial activities, or unforeseen events, including those discussed under the heading “Risk Factors” in this prospectus supplement and in the documents incorporated by reference herein, including in the Annual Report and any subsequently filed Quarterly Reports on Form 10-Q. Accordingly, we will retain broad discretion over the use of these proceeds. Pending application of the net proceeds as described above, we may temporarily invest the proceeds in interest-bearing instruments.

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TABLE OF CONTENTS

DILUTION If you purchase our Common Shares in this offering, your interest will be diluted to the extent of the difference between the public offering price per share and the net tangible book value per share of our Common Shares after this offering. Net tangible book value per share is determined by dividing the number of Common Shares outstanding as of June 30, 2025 into our total tangible assets less total liabilities. Our reporting currency is the Canadian dollar. The United States dollar amounts in this “Dilution” section relating to Canopy Growth’s financial results were translated into United States dollars solely for convenience at a rate of C$1.00 to $0.733, the exchange rate reported as of June 30, 2025 by the Bank of Canada. Our net tangible book value as of June 30, 2025 was approximately C$357,269,000 ($261,878,177), or C$1.74 ($1.28) per Common Share, based on 205,147,235 Common Shares outstanding as of that date. After giving effect to the sale of 106,382,979 Common Shares at an assumed public offering price of $1.88 per Common Share the last reported sale price of our Common Shares on the Nasdaq Global Select Market on August 28, 2025, after deducting an assumed Commission of 3.0% and estimated aggregate offering expenses payable by us, and assuming no Common Shares sold in the Concurrent Canadian Offering, our as adjusted net tangible book value as of June 30, 2025 would have been approximately C$621,560,951 ($455,604,177), or C$1.99 ($1.46) per Common Share. This represents an immediate increase in net tangible book value