+ 0.01
+ 0%
+ 3.41
+ 1.17%
+ 2.18
+ 0.61%

Aurora Closes $173M Offering To Fund 'Growth Opportunities'

November 16, 2020 12:20 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More

Canadian cannabis giant Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB) has closed its overnight marketed public offering of units for total gross proceeds of $172.5 million.

ATB Capital Markets and BMO Capital Markets were the bookrunners for the offering.

The Edmonton-headquartered company sold 23 million units at a price of $7.50 per unit, counting 3 million units sold pursuant to the exercise in full of the underwriters’ over-allotment option.

Aurora noted that each unit consisted of one share and one half of one share purchase warrant of the company. Each warrant is exercisable to obtain one share of the company in the following 40 months upon closing the offering, at a price of $9.00 per warrant share.

The company said it will utilize collected net proceeds to support its development opportunities, working capital and usual corporate purposes.

In addition, and related to the offering, Aurora filed a prospectus supplement to its short form base shelf prospectus from Oct. 28.

At the time of writing, Aurora’s shares were 5.44% down at $6.70 per share.

Related Articles

Cannabis Stock Gainers And Losers From November 23, 2020

GAINERS: Nine Energy Service (NYSE: NINE) shares closed up 34.15% at $2.20 read more

Australia's Cann Group Ensures $50M Loan To Support Facility Completion

Australian cannabis company Cann Group Limited (ASX: CANN) (PINK: CNGGF) revealed Monday it has obtained credit approval from National Australia Bank (NAB) for its $50 million secured debt facility. read more

SD Police Throw Out Recreational Cannabis Measure Over 'Technicality'

South Dakota Governor Kristi Noem's efforts to challenge marijuana legalization continue.  read more

Jushi To Expand Scranton Facility To Create Some 100 New Jobs

Jushi Holdings Inc. read more

Mexico's Cannabis Legalization Bill Will Boost Business, But There Are Concerns

Mexican Senators approved a historic adult use cannabis legalization bill on Nov. 19, with an 82 to 18 vote. read more