Business
Aurora Confirms Approval of Transfer to Nasdaq Capital Market; Enters into Agreement to Repurchase a Further ~ US$9.6 Million Principal Amount of Convertible Notes
Aurora Confirms Approval of Transfer to Nasdaq Capital Market; Enters into Agreement to Repurchas...
About this update from Aurora Cannabis Inc.
[{"type":"text","content":"\n \n \n \n Aurora Confirms Approval of Transfer to Nasdaq Capital Market; Enters into Agreement to Repurchase a Further ~ US$9.6 Million Principal Amount of Convertible Notes\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n NASDAQ\n \n |\n \n TSX\n \n :\n \n ACB\n \n \n \n \n EDMONTON, AB\n \n \n ,\n \n \n Sept. 19, 2023\n \n \n /CNW/ -\n \n Aurora Cannabis Inc. (\"Aurora\" or the \"Company\") (\n \n NASDAQ\n \n :\n \n ACB) (TSX\n \n :\n \n ACB\n \n ), the Canadian company opening the world to cannabis, today announced that it has received approval to transfer the listing of its common shares (the \"Shares\") from the\n \n Nasdaq\n \n Global Select Market to the\n \n Nasdaq\n \n Capital Market (the \"Transfer\"). The Transfer became effective at the opening of business on\n \n September 19, 2023\n \n , and is expected to allow the Company to seek an additional 180 days to regain compliance with the\n \n Nasdaq\n \n Listing Rule 5450(a)(1) (the \"Minimum Bid Price Requirement\"). Additionally, Aurora announced today, that it has agreed to repurchase an aggregate of approximately\n \n $13.0 million\n \n (\n \n US$9.6 million\n \n ) principal amount of its convertible senior notes (\"Notes\") at a total cost, including accrued interest, of\n \n $13.0 million\n \n (\n \n US$9.6 million\n \n ) satisfied by the issuance of an aggregate of approximately 13.5 million Shares. Following completion of these repurchases, Aurora will have approximately\n \n $39.6 million\n \n (\n \n US$29.2 million\n \n ) of Notes outstanding.\n \n \n \n \n \n \n \n \n \n \n As previously disclosed, Nasdaq advised Aurora on\n \n March 24, 2023\n \n , that the bid price of the Shares had closed at less than US$1.00 per share over the previous 30 consecutive business days, resulting in a deficiency with the Minimum Bid Price Requirement, and the Company was given a period of 180 calendar days, or until\n \n September 20, 2023\n \n , to regain compliance with the Minimum Bid Price Requirement. In connection with the Tran...