Company: CGC
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085662
Chunk: 19

Company: Canopy Growth Corp
Filing Date: 2025-08-29
Form: 424B5
Chunk 19
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 of $0.18 per Common Share to existing shareholders and immediate dilution of $0.42 per Common Share to a new investor purchasing our Common Shares at the assumed public offering price, as illustrated by the following table:

| ​ | Assumed public offering price per Common Share                                                                | ​ | ​ | ​ | ​ |    ​ | ​ | ​ | ​ | ​ | $ | 1.88 | ​ | ​ |
| ​ | Net tangible book value per Common Share as of June 30, 2025                                                  | ​ | ​ | ​ | $ | 1.28 | ​ | ​ | ​ | ​ | ​ |    ​ | ​ | ​ |
| ​ | Increase in net tangible book value per Common Share attributable to this offering                            | ​ | ​ | ​ | $ | 0.18 | ​ | ​ | ​ | ​ | ​ |    ​ | ​ | ​ |
| ​ | As adjusted net tangible book value per Common Share as of June 30, 2025 after giving effect to this offering | ​ | ​ | ​ | ​ |    ​ | ​ | ​ | ​ | ​ | $ | 1.46 | ​ | ​ |
| ​ | Dilution per Common Share to investors in this offering                                                       | ​ | ​ | ​ | ​ |    ​ | ​ | ​ | ​ | ​ | $ | 0.42 | ​ | ​ |

The table above assumes for illustrative purposes that an aggregate of 106,382,979 Common Shares are sold during the term of this offering at an offering price of $1.88 per Common Share, which was the last reported sale price of our Common Shares on the Nasdaq Global Select Market on August 28, 2025, for aggregate gross proceeds of $200 million. The Common Shares subject to the Equity Distribution Agreement are being sold from time to time at various prices. An increase of 10% per Common Share in the price at which the Common Shares are sold from the assumed offering price of $1.88 per Common Share shown in the table above, assuming all of our Common Shares in the aggregate amount of $200 million during the term of this offering are sold at that price, would increase our adjusted net tangible book value per Common Share after this offering to $1.51 per Common Share and would dilute the net tangible book value per Common Share to new investors in this offering by $0.56 per Common Share, after deducting the Commission and estimated aggregate offering expenses payable by