- Aurora Cannabis Inc. (ACB) has closed its previously announced bought deal offering of units for gross proceeds of approximately US$172.5 million
- Aurora is an Edmonton-based company working in the cannabis industry
- It sold 70.4 million units at a price of US$2.45 per unit
- The net proceeds will be used for general corporate purposes
- Aurora is expecting no further use of the at-the-market facility anytime soon
- Aurora Cannabis Inc. (ACB) is down 8.45 per cent trading at $1.95 per share as of 1:35 p.m. ET
Aurora Cannabis Inc. (ACB) has closed a bought deal offering of units for gross proceeds of approximately US$172.5 million.
Aurora is an Edmonton-based company working in the cannabis industry for both the medical and consumer markets.
According to the company, it sold 70.4 million units at a price of US$2.45 per unit. 9.2 million units were sold according to the exercise in full of the underwriters’ over-allotment option.
Each unit includes one common share of the company and one common share purchase warrant. A single warrant can be exercised to acquire one common share for 36 months following the closing date of the offering at an exercise price of US$3.20 per warrant share, subject to adjustment in certain events.
The net proceeds will be used for general corporate purposes. As a result of this financing, Aurora is expecting no further use of the at-the-market facility anytime soon, approximately US$186 million of which remains outstanding.
Aurora Cannabis Inc. (ACB) is down 8.45 per cent trading at $1.95 per share as of 1:35 p.m. ET.