Key facts
- This page summarizes CONSTELLATION BRANDS, INC.'s Form 4 filing for Canopy Growth Corp (CGC).
- 5 reported transactions and 3 derivative rows are listed below.
- Accepted by SEC: 19 Apr 2024, 17:00.
CONSTELLATION BRANDS, INC. - 18 Apr 2024 Form 4 Insider Report for Canopy Growth Corp (CGC)
- Reporting relationship
- 10%+ Owner
- Issuer ticker
- CGC
- Reported as of
- 18 Apr 2024
- Net transaction value
- +$58,951,722
- SEC form
- 4
- Accepted by SEC
- 19 Apr 2024, 17:00:10 UTC
- Prior SEC filing
- 19 Jul 2022
- Source filing
- View source filing
- Reporting owner signature
- /s/ Brian Bennett, Senior Vice President & Assistant Secretary of Constellation Brands, Inc.
Source evidence
Original filing metadata and source links for verification.
4 source fields
Reporting owner
1 detail
Key filing fact
CONSTELLATION BRANDS, INC. filed Form 4 for Canopy Growth Corp (CGC) on 19 Apr 2024.
Change
- Previous filing in this sequence was filed on 19 Jul 2022.
- Current net transaction value: +$58,951,722.
Research use
- This tells you what this filing adds before you inspect full transaction and derivative tables.
- You can trace every row back to the original SEC filing document.
Evidence
Filed on Form 4
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
CGC
transaction
Common Shares
Other
- Transaction value
- Shares
- -6,699,925
- Change %
- -100%
- Price
- Shares after
- 0
- Date
- 18 Apr 2024
- Ownership
- by Greenstar Canada Investment Limited Partnership
- Footnotes
- F1, F2, F3
CGC
transaction
Common Shares
Other
- Transaction value
- Shares
- -10,450,000
- Change %
- -100%
- Price
- Shares after
- 0
- Date
- 18 Apr 2024
- Ownership
- by CBG Holdings LLC
- Footnotes
- F1, F2, F4
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
CGC
transaction
Derivative
Exchangeable Shares
Other
- Transaction value
- Shares
- +6,699,925
- Change %
- Price
- Shares after
- 6,699,925
- Date
- 18 Apr 2024
- Ownership
- by Greenstar Canada Investment Limited Partnership
- Underlying class
- Common Shares
- Underlying amount
- 6,699,925
- Exercise price
- Footnotes
- F1, F3, F5
CGC
transaction
Derivative
Exchangeable Shares
Other
- Transaction value
- Shares
- +10,450,000
- Change %
- Price
- Shares after
- 10,450,000
- Date
- 18 Apr 2024
- Ownership
- by CBG Holdings LLC
- Underlying class
- Common Shares
- Underlying amount
- 10,450,000
- Exercise price
- Footnotes
- F1, F4, F5
CGC
transaction
Derivative
Exchangeable Shares
Other
- Transaction value
- $58,951,722
- Shares
- +9,111,549
- Change %
- +136%
- Price
- $6.47
- Shares after
- 15,811,474
- Date
- 18 Apr 2024
- Ownership
- by Greenstar Canada Investment Limited Partnership
- Underlying class
- Common Shares
- Underlying amount
- 9,111,549
- Exercise price
- Footnotes
- F3, F5, F6
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Explanation of responses 6 footnotes
Footnote F1
On April 18, 2024, Greenstar Canada Investment Limited Partnership ("GCILP") and CBG Holdings LLC ("CBG") exchanged their Common Shares of Canopy Growth Corporation (the "Issuer") for non-voting and non-participating exchangeable shares ("Exchangeable Shares") of the Issuer on a one-for-one basis.
Footnote F2
In December 2023, the Issuer effected a reverse stock split at a ratio of one-for-ten. As a result, the Common Shares held by GCILP and CBG decreased by 60,299,333 Common Shares and 94,050,000 Common Shares, respectively.
Footnote F3
These shares are owned directly by GCILP, whose general partner is Greenstar Canada Investment Corporation ("GCIC"), which is a wholly-owned subsidiary of Constellation Brands Canada Holdings ULC ("CBCH"), which is a wholly-owned subsidiary of Constellation Capital LLC ("CC"), which is a wholly-owned subsidiary of Constellation International Holdings Limited ("CIHL"), which is a wholly-owned subsidiary of Constellation Brands, Inc. ("CBI"). GCIC, CBCH, CC, CIHL and CBI are indirect beneficial owners of the reported shares.
Footnote F4
These shares are owned directly by CBG, which is a wholly-owned indirect subsidiary of CBI. CBI is the only Reporting Person that has a pecuniary interest in these shares.
Footnote F5
The Exchangeable Shares are convertible into Common Shares on a one-for-one basis at any time at the election of the holder. The Exchangeable Shares are perpetual and therefore have no expiration date.
Footnote F6
On April 18, 2024, GCILP entered into an Exchange Agreement, dated April 18, 2024 (the "Exchange Agreement"), with the Issuer whereby GCILP agreed to exchange a portion of the Issuer's C$100 million promissory note for 9,111,549 Exchangeable Shares. The number of Exchangeable Shares issued to GCILP was calculated based on a price per share of C$8.91. The price of derivative security reported in column 8 was based on an exchange rate of 1.3773 Canadian dollars to 1 U.S. dollar.