+ 0.60
+ 0.4%

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

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

What Happens To Marijuana After Five Years Of Storage?

This article by Allie Beckett was originally published on Weedmaps, and appears here with permission. read more

The Week In Cannabis: Stocks Spike By Double Digits On Earnings, Strong Sales, Financings

Cannabis stocks widely outperformed the markets after a slew of financing deals and strong earnings reports. read more

Cannabis Stock Gainers And Losers From January 15, 2021

GAINERS: Next Green Wave Holdings (OTCQX: NXGWF) shares closed up 17.73% at $0.51 read more

Michigan Cannabis Sales Near $1B In First Year Of Adult-Use Sales

Cannabis sales in Michigan spiked during December, bringing the total to $984.6 million for 2020. read more

Cantor Analyst Raises Aphria And Tilray Price Targets Amid Merger

Cantor Fitzgerald analyst Pablo Zuanic expressed disappointment by Aphria Inc. (TSX: APHA) (NASDAQ: APHA) quarterly results in an analyst note published Friday. read more