RE:RE:Aurora Debt Holders Agree to Convert 94% of $230 M DebentureBestdealsal wrote: Is this a good thing? Does it shows debenture holders are interested in the stock price and prefer to hold the less secure stock vs there secured debentures?
I see this a postive for the stock? What do you think?
The debentures were unsecured. If they agreed, they like the stock. I don't know exactly but most of the debenture holders are institutionals. It is very possible that they push the price down until Nov, 22 with bashers pushing people to sell. I have the cash to buy. When the debentures are unsecured, it shows a trust in the company.
the debt will be converted at a 6% discount to the five day volume weighted average price that occurs between November 18, and November 22, 2019. EDMONTON, Nov. 19, 2019 /CNW/ - Aurora Cannabis Inc. (the "Company" or "Aurora") (NYSE TSX: ACB), the Canadian company defining the future of cannabis worldwide, announced today that the Company has received notice from holders of the Company's CAD $230 million 5% unsecured, convertible debentures due March 9, 2020 (the "Debentures"), representing approximately CAD $216 million principal amount, or approximately 94%, of the Debentures, voluntarily electing to convert their Debentures pursuant to the alternate settlement procedures as outlined in the indenture dated March 9, 2018, as supplemented by the first supplemental indenture dated November 14, 2019, between the Company and Computershare Trust Company of Canada (the "Supplemented Indenture").