Aurora Cannabis Looks To Raise US$125 Million Via Bought Deal

Some degree of investor demand evidently remains within the Canadian cannabis sector. Aurora Cannabis (TSX: ACB) last night announced that it will be conducting a rather large financing, which is to take the form of a bought deal.

The financing will see the company raise gross proceeds of US$125.0 million. Led by Canaccord Genuity and BMO Capital Markets, the financing will consist of units priced at US$2.45 per each.

Each unit is to contain one common share and one common share purchase warrant. Each warrant is valid for a period of three years from the date of issuance, and contains an exercise price of US$3.20 per share. A total of 51.1 million units are to be sold under the offering.

A 15% over-allotment option has also been granted in connection with the financing.

Proceeds from the financing are to be used for general corporate purposes. The financing is currently slated to close June 1.

The company reported a cash position of C$429.9 million as of March 31, although subsequent to quarter end it spent C$122.9 million on May 9 redeeming outstanding senior notes.

Aurora Cannabis last traded at $3.47 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization unless otherwise mentioned. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

ESGold Outlines $24.3 Million NPV For Tailings Reprocessing Project

First Majestic Encounters 711 g/t Silver Equivalent Over 8.0 Metres In Ongoing Exploration At Los Gatos

Related News

Aurora Earnings Part 2: The Spend.

The Deep Dive outlined Aurora Cannabis’ (TSX: ACB) (NYSE: ACB) ops this past Saturday and,...

Monday, February 17, 2020, 11:46:02 AM

Saturated: The Canadian Cannabis Production Landscape

The Canadian cannabis landscape, in a word, is saturated. Despite the best intentions of sector...

Sunday, November 3, 2019, 09:00:16 AM

Aurora Cannabis Files US$500 Million Base Shelf Prospectus, Reveals ATM Largely Complete

Aurora Cannabis (TSX: ACB) (NYSE: ACB) appears to be in need of money again. The...

Tuesday, October 27, 2020, 12:07:15 AM

Aurora Posts Flat Quarterly Revenue Growth In Q2 2022

Aurora Cannabis (TSX: ACB) this evening reported its second quarter financial results. The firm reported...

Thursday, February 10, 2022, 05:25:34 PM

Aurora Cannabis Sees $8.0 Million Cannabis Shipment Delivered To Israel

Aurora Cannabis (TSX: ACB) this morning issued a brief news release, indicating it has made...

Thursday, July 15, 2021, 07:48:39 AM