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.
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.
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