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Aurora Cannabis Inc. Announces Closing of its C$38.8 Million Bought Deal Financing, Including the Full Exercise of the Over-Allotment Option
Aurora Cannabis Inc. Announces Closing of its C$38.8 Million Bought Deal Financing, Including the...
About this update from Aurora Cannabis Inc.
[{"type":"text","content":"\n \n \n \n Aurora Cannabis Inc. Announces Closing of its C$38.8 Million Bought Deal Financing, Including the Full Exercise of the Over-Allotment Option\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n NASDAQ | TSX: ACB\n \n \n \n Intends to Repay Remaining Convertible Debt Balance, Saving Almost\n \n C$2 Million\n \n in Annual Interest Payments\n \n \n \n \n EDMONTON, AB\n \n ,\n \n \n Oct. 3, 2023\n \n \n /CNW/ - Aurora Cannabis Inc. (\"Aurora\" or the \"Company\") (NASDAQ: ACB) (TSX: ACB), the Canadian company opening the world to cannabis, today announced the closing of its previously announced bought deal offering of 53,187,500 common shares of the Company (the \"Offered Securities\") at a price of\n \n C$0\n \n .73 per Offered Security (the \"Offering Price\"), for aggregate gross proceeds to Aurora of approximately\n \n C$38,826,875\n \n (the \"Offering\"). The gross proceeds include the full exercise of the over-allotment option by Canaccord Genuity to purchase 6,937,500 additional common shares of the Company on the same terms as the Offering.\n \n \n \"It is our intention to use the majority of the net proceeds from the Offering to repay the remaining balance of our convertible notes at or prior to maturity, representing principal outstanding of approximately\n \n US$25 million\n \n . Pro forma the Offering but prior to any repayment of convertible notes, Aurora has a highly flexible capital structure, with approximately\n \n C$227 million\n \n of total cash available to support strategic growth initiatives and value accretive M&A opportunities. As a result of the Offering, we do not believe that we will need to pursue an at-the-market offering program for the medium term, as we expect to deliver on our stated objective of being free cash flow positive in calendar 2024\" stated Aurora's CEO\n \n Miguel Martin\n \n .\n \n \n A prospectus supplement (the \"Prospectus Supplement\") to the Company's short form base shelf prospe...