Company: CGC
Filing Date: 2025-02-28
Form Type: 424B5
Source: 0001104659-25-019242
Chunk: 5

Company: Canopy Growth Corp
Filing Date: 2025-02-28
Form: 424B5
Chunk 5
---
 to time under this offering and the number of Common Shares issued in the Concurrent Canadian Offering.

#### Manner of Offering
“At the market offering” that may be made from time to time through our sales agent, BMO Capital Markets Corp., as the Agent. See “Plan of Distribution” on page S-12 of this prospectus supplement.

#### Use of Proceeds
We currently intend to use the net proceeds from this offering, together with the net proceeds of the Concurrent Canadian Offering, for investments in businesses and/or to fund any potential future acquisitions and for working capital and general corporate purposes, which may include the repayment of indebtedness, including the Optional Prepayment (as defined below). See “Use of Proceeds.”

#### Risk Factors
Investing in our Common Shares involves a high degree of risk. You should read the section titled “Risk Factors” in this prospectus supplement, in the Annual Report and in our subsequently filed Quarterly Reports on Form 10-Q, and in the other documents or information included, or incorporated by reference, in this prospectus supplement for a discussion of some of the risks and uncertainties you should carefully consider before deciding to invest in our Common Shares.

#### Market for our Common Shares
Our Common Shares are listed on the TSX under the symbol “WEED” and on the Nasdaq Global Select Market under the symbol “CGC.”

(1)

The number of Common Shares to be outstanding after this offering and the Concurrent Canadian Offering is based on 156,202,451 Common Shares outstanding as of February 24, 2025 and excludes up to 64,225,737 additional Common Shares, as follows:

•

26,261,474 of our Common Shares issuable upon conversion of the issued and outstanding non-voting and non-participating exchangeable shares in the capital of the Company (the “Exchangeable Shares”) (and assumes that no additional Common Shares are converted into Exchangeable Shares during the term of this offering);

•

up to 3,587,372 of our Common Shares issuable upon the exercise of stock options outstanding as of February 24, 2025 under the Canopy Growth Corporation Omnibus Equity Incentive Plan (the “Omnibus Incentive Plan”) at a weighted average exercise price of $22.23 (C$31.98) per Common Share;

•

up to 1,382,164 Common Shares issuable upon the vesting of restricted share units outstanding under the Omnibus Incentive Plan;

•

up to 73,461 Common