- Aurora Cannabis (ACB) has repurchased C$31.3 million of the principal of its convertible senior notes
- Total consideration, including accrued interest, was $29.8 million in cash, which amounts to a 5.45-per-cent discount on par value
- The transaction will reduce annual interest payments by $11.9 million
- The company expects a positive adjusted EBITDA run rate by year-end
- Aurora is a global cannabis company headquartered in Edmonton, Alberta, serving the medical and retail markets
- Aurora Cannabis (ACB) is down by 8.29 per cent, trading at $1.66 per share
Aurora Cannabis (ACB) has repurchased C$31.3 million of the principal of its convertible senior notes.
Total consideration, including accrued interest, was $29.8 million in cash, which amounts to a 5.45-per-cent discount to par value.
The company executed the transaction to reduce debt and annual cash interest costs. Annual cash interest savings from the repurchases from Q3 2022 onward total approximately $11.9 million.
Aurora’s balance sheet remains strong, with $380 million in cash and cash equivalents, including $52 million of restricted cash.
It expects to achieve a positive adjusted EBITDA run rate by December 31, 2022.
Aurora is a global cannabis company headquartered in Edmonton, Alberta, serving the medical and retail markets.
Aurora Cannabis (ACB) is down by 8.29 per cent, trading at $1.66 per share at 9:46 am EST.