Ex Aurora Cannabis (TSX: ACB) (NYSE: ACB) CEO and director Terry Booth has sold a portion of his position in the company he helped found and lead to a multi-billion dollar valuation. And evidently, investors have taken notice.
The filing was published late Friday evening, with Booth reporting the sale of 48,000 shares at a price of $21.28 a piece, which took place on May 27 as the company was experiencing a slight run up in its valuation. Gross proceeds from the transaction is estimated to be approximately $1.02 million, a fraction of what the shares would have fetched just one year ago on a pre-consolidation basis.
While uproar continues across the sector as a result of the sale, the unloading represented 17.7% of Booth’s position in common shares of the company via his private corporation known as Lola Ventures. The private co also currently owns 31,224 restricted stock units as well as 212,407 options and 1,756 warrants.
Outside of Lola Ventures, Booth still his a sizable position in the company he grew. Directly, he still owns 10,799 common shares, 604 deferred unit shares, as well as 10,000 shares indirectly and 13,333 warrants via Chinuke Investments.
Aurora Cannabis last traded at $19.27 on the TSX.
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As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.