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Aurora Repurchases ~$22 Million Principal Amount of Convertible Notes, Saving $1.2 Million in Annualized Interest Payments and Leaving ~$79 Million (US$59) of Notes Outstanding; Balance Sheet Remains Among Strongest in Canadian Cannabis Industry
Aurora Repurchases ~$22 Million Principal Amount of Convertible Notes, Saving $1.2 Million in Ann...
About this update from Aurora Cannabis Inc.
[{"type":"text","content":"\n \n \n \n Aurora Repurchases ~$22 Million Principal Amount of Convertible Notes, Saving $1.2 Million in Annualized Interest Payments and Leaving ~$79 Million (US$59) of Notes Outstanding; Balance Sheet Remains Among Strongest in Canadian Cannabis Industry\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 | TSX: ACB\n \n \n \n \n EDMONTON, AB\n \n \n ,\n \n \n April 24, 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 that it has repurchased an aggregate of approximately\n \n $22.3 million\n \n (\n \n US$16.6 million\n \n ) principal amount of its convertible senior notes (\"Notes\") in multiple transactions since the start of\n \n April 2023\n \n at a total cash cost, including accrued interest, of\n \n $16.7 million\n \n (\n \n US$12.4 million\n \n ) and\n \n $5.3 million\n \n (\n \n US$4.0 million\n \n ), including accrued interest, satisfied by the issuance of an aggregate ~6.35 million common shares of Aurora. In total, these transactions will save Aurora\n \n $2.6 million\n \n in annualized interest payments. Following completion of these repurchases, Aurora will have approximately\n \n $79 million\n \n (\n \n US$59 million\n \n ) of Notes outstanding.\n \n \n \n \n \n \n \n \n \n The purpose of the transactions was to reduce the Company's debt and annual cash interest costs, reinforcing our commitment to financial discipline. Aurora has repurchased an aggregate of approximately\n \n $385 million\n \n (\n \n US$286 million\n \n ) principal amount of its convertible senior notes since\n \n December 2021\n \n , resulting in annual cash interest savings of approximately\n \n $21 million\n \n (\n \n US$16 million\n \n ).\n \n \n Aurora's balance sheet remains amongst the strongest in the Canadian cannabis industry. Having achieved the goal of Adjusted EBITDA Profitability for the quarter ended\n \n December 31, 2022\n \n , Aurora expects to continue to focus on profita...