Tilray Inc.

The Underwriters in connection with the cross-border IPO and NASDAQ listing of Tilray Inc.


Cowen and Company, LLC and BMO Nesbitt Burns Inc., as representatives of the Underwriters


US$175 million


Capital Markets

Date Closed

July 2018

Lead Office

New York


On June 20, 2018, Tilray Inc. announced the filing of a registration statement with the U.S. Securities and Exchange Commission for an initial public offering (“IPO”) of shares of its Class 2 common stock in the United States and Nasdaq listing. Tilray also filed a preliminary prospectus for an IPO in Canada in each province except Québec. The offering, including the exercise of the over-allotment option, closed on June 23, 2018, raising approximately US$175 million in the combined U.S. and Canadian offering.

Tilray Inc. is a British Columbia-based cannabis cultivator, processor and distributor, federally licensed in Canada.

Osler, Hoskin & Harcourt LLP represented the Underwriters (led by Cowen and BMO Capital Markets) as both U.S. and Canadian legal counsel, with a team led by Rob Lando and including Jie Chai and Michael Sherman (Securities), Mark Austin and Michael Watts (Cannabis regulatory), Barry Fong (Intellectual Property), Jennifer Lee and Greg Wylie (Tax) and Lynne Lacoursiere (Executive Compensation).