Aurora Cannabis Buys Back $22M Principal Amount of Convertible Notes

  • Investing.com
Aurora Cannabis Buys Back $22M Principal Amount of Convertible Notes

Aurora Cannabis Inc. (NASDAQ: ACB ) today announced that it has repurchased an aggregate of approximately $22.3 million (US$16.6 million) principal amount of its convertible senior notes ("Notes") in multiple transactions since the start of April 2023 at a total cash cost, including accrued interest, of $16.7 million (US$12.4 million) and $5.3 million (US$4.0 million), including accrued interest, satisfied by the issuance of an aggregate ~6.35 million common shares of Aurora. In total, these transactions will save Aurora $2.6 million in annualized interest payments. Following completion of these repurchases, Aurora will have approximately $79 million (US$59 million) of Notes outstanding

The purpose of the transactions was to reduce the Company's debt and annual cash interest costs, reinforcing our commitment to financial discipline. Aurora has repurchased an aggregate of approximately $385 million (US$286 million) principal amount of its convertible senior notes since December 2021, resulting in annual cash interest savings of approximately $21 million (US$16 million).

Aurora's balance sheet remains amongst the strongest in the Canadian cannabis industry. Having achieved the goal of Adjusted EBITDA Profitability for the quarter ended December 31, 2022, Aurora expects to continue to focus on profitable growth in both global medical and Canadian adult use markets.

This announcement does not constitute an offer to sell, or a solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100

Related Articles