- Aurora Cannabis Inc. (ACB) closed its previously announced bought deal public offering of units of the company for total gross proceeds of USD$137,940,000
- The company sold 13,200,000 units at a price of USD$10.45 per unit, including 1,200,000 units sold pursuant to the exercise in full of the underwriters’ over-allotment option
- Each unit is comprised of one common share of the company and one half of one common share purchase warrant of the company
- BMO Capital Markets and ATB Capital Markets acted as the bookrunners for the offering
- Aurora Cannabis is up 4.40 per cent to C$13.53 per share
Aurora Cannabis Inc. (ACB) closed its previously announced bought deal public offering of units of the company for total gross proceeds of USD$137,940,000.
The company sold 13,200,000 units at a price of USD$10.45 per unit, including 1,200,000 units sold pursuant to the exercise in full of the underwriters’ over-allotment option.
Each unit is comprised of one common share of the company and one half of one common share purchase warrant of the company.
Each warrant is exercisable to acquire one common share of the company for a period of 36 months following the closing date of the offering at an exercise price of USD$12.60 per warrant share, subject to adjustment in certain events.
BMO Capital Markets and ATB Capital Markets acted as the bookrunners for the offering.
The company plans to use the net proceeds of the offering for general corporate purposes, which may include opportunistically reducing debt.
The company believes that the offering fits with its broader strategy to have a strong balance sheet while maintaining maximum flexibility to invest and build toward being a leader in global cannabinoids.
In connection with the offering, the company filed a prospectus supplement to the company’s short form base shelf prospectus dated October 28, 2020 with the securities commissions or similar securities regulatory authorities in each of the provinces of Canada, except Quebec, and with the U.S. Securities and Exchange Commission as part of the Company’s registration statement on Form F-10 under the U.S./Canada Multijurisdictional Disclosure System.
The prospectus supplement, the base shelf prospectus and the registration statement contain important detailed information about the company and the offering.
Aurora Cannabis is up 4.40 per cent to C$13.53 per share at 3:56pm EST.
