Aurora Cannabis Inc T.ACB

Aurora Cannabis Inc. US$125 Million Bought Deal Financing

[Betteryear2]

EDMONTON, AB, May 26, 2022 /PRNewswire/ - Aurora Cannabis Inc. ("Aurora" or the "Company") (NASDAQ: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, today has announced today that it has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity and BMO Capital Markets, under which the underwriters have agreed to buy on bought deal basis 51.1 million units of the Company (the "Units"), at a price of US$2.45 per Unit for gross proceeds of approximately US$125.2 million (the "Offering"). Each Unit will be comprised of one common share of the Company (a "Common Share") and one common share purchase warrant of the Company (a "Warrant"). Each Warrant will be exercisable to acquire one common share of the Company (a "Warrant Share") for a period of 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.

 

[charliebitmyfin]

I thought aurora had cash, so why this?

[CommonCentsforDollars]

May 12th Earnings one of ACB's top bullets.... 14 days later ACB CEO sticks it iin Retails a$$ with no lube.  Talk about a dumb c*nt of a CEO, he is going f*ck the whole sector. Thanks mf'er. Strong balance sheet; Early Repurchase of $141.4Million in Convertible Debt $2.45 per Unit... with a FULL warrant  excercise at $3.20 with a 3 year expiry. ACB will be

[Rotaluceps]

ACB will not be profitable for many quarters if you remove their target of being EBITDA, to trick people (as all the companies in bad shape do) as if it was good, but it is crumb, if the target is reached. So, it was a good move for the company at the price of the deal. Since the stock price is in a downtrend, better getting the money now than at a lower price later. The investors lost 22.53

[charliebitmyfin]

Ya, we have seen this time and again, downward she continues, grasping at straws, hoping to stay alive while management gets paid well. "the Canadian company defining the future of cannabinoids worldwide" lol i don't believe for a moment that the underwriters are taking any risk

[Andrew73]

This has to be a short covering deal. Hedge funds that shorted the stock need to close out their position so instead of buying in the market which could increase the share price / lower their returns, they go to the company and ask them to sell them the shares which they then return to the people they borrrowed them from. Company gets the cash to survive another quarter or two and shareholders get