Today, Tilray (NASDAQ:TLRY) Brands, Inc. (NASDAQ:TLRY), a leader in the medicinal chemicals and botanical products industry with annual revenues exceeding $812 million, announced the appointment of Steven M. Cohen to its board of directors. Effective immediately, Cohen will serve as a Class III board member until the 2027 Annual Meeting of Stockholders.
According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 2.47, indicating robust short-term financial health. The company's board confirmed that Cohen meets the criteria for independence under The Nasdaq Stock Market and Securities Exchange Act of 1934 standards, qualifying him for his new role and any committee appointments.
Cohen's extensive background includes serving as Interim CEO of AYR Wellness Inc. since September 2024, and as an adjunct professor at New York Law School. His previous roles encompass Chief Administrative Officer and General Counsel at MacAndrews & Forbes Incorporated and board positions at Whole Earth Brands and other prominent organizations.
His legal career is marked by significant positions, including Secretary to New York Governor Andrew M. Cuomo and Chief of Staff in the New York Attorney General's Office. Cohen's experience also includes prosecuting violent gangs as Chief of the Violent Gangs Unit in the U.S. Attorney’s Office for the Southern District of New York.
In other recent news, Tilray Brands, Inc. emerged victorious in a lawsuit challenging the voting standard used during its stockholder meetings. The Delaware Court of Chancery ruled in favor of Tilray, affirming the company's adherence to the correct voting procedure. This legal win is significant as it relates to Tilray's governance and the authorization of additional common stock, potentially impacting its capital structure and future financing opportunities.
In financial developments, Tilray reported record net revenue of $200 million for the first quarter, marking a 13% year-over-year increase. The beverage division of the company saw a significant 132% growth in net revenue. Furthermore, Tilray secured lender approval for the acquisition of craft beer brands from Molson Coors (NYSE:TAP) Beverage Company, a strategic expansion that aligns with the company's diversification efforts.
Hub Cyber Security Ltd., on the other hand, announced it will convene its Annual General Meeting of Shareholders. The Tel Aviv-based company maintains a strong financial health profile and demonstrates solid operational efficiency.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.