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Aurora Repurchases ~$47 Million Principal Amount of Convertible Notes, Saving $2.6 Million in Annualized Interest Payments; Balance Sheet Remains Among Strongest in Canadian Cannabis Industry
Aurora Repurchases ~$47 Million Principal Amount of Convertible Notes, Saving $2.6 Million in Ann...
About this update from Aurora Cannabis Inc.
[{"type":"text","content":"\n \n \n \n Aurora Repurchases ~$47 Million Principal Amount of Convertible Notes, Saving $2.6 Million in Annualized Interest Payments; 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 March 30, 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 $46.6 million\n \n (\n \n US$34.3 million\n \n ) principal amount of its convertible senior notes (\"Notes\") at a total cost, including accrued interest, of\n \n $45.6 million\n \n (\n \n US$33.6 million\n \n ) in cash, saving\n \n $2.6 million\n \n in annualized interest payments. Following completion of this repurchase, Aurora will have approximately\n \n $103 million\n \n (\n \n US$76 million\n \n ) of Notes outstanding.\n \n \n \n \n \n \n \n \n \n The purpose of the transaction, which represents a repurchase of a portion of the Notes at a 2.5% discount to par value, 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 $366 million\n \n (\n \n US$269 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 $20 million\n \n (\n \n US$15 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 profitable growth in both global medical and Canadian adult use markets.\n \n \n This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale ...