Aurora Cannabis (TSX: ACB) (NYSE: ACB) this morning announced the closing of its overnight marketed public offering. The company raised gross proceeds of US172.5 million from the financing, the equivalent of roughly $225.7 million in Canadian dollars.
The financing saw a total of 23.0 million units sold at a price of US$7.50 per unit, or C$9.81. Units consisted of one common share and one half of a common share purchase warrant, good for a period of 40 months following the close of the financing with an exercise price of US$9.00 per share.
The raise saw the full exercise of the over allotment option offered in connection with the financing.
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Net proceeds from the offering are to be used to fund growth opportunities, working capital, and general corporate purposes.
Aurora Cannabis last traded at $7.07 on the NYSE.
Information for this briefing was found via Sedar and Aurora Cannabis. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
