Business
Aurora Cannabis closes bought deal financing, yielding $172.5 million
Canadian marijuana producer Aurora Cannabis said it received gross proceeds of $172.5 million from a bought deal offering after the underwriters’ over-allotment option was fully exercised.
The bought deal financing was announced last week for $125 million, then upsized to $150 million.
Edmonton, Alberta-based Aurora sold roughly 70.4 million units for $2.45 per unit, including 9.2 million units sold through the over-allotment option, according to a Wednesday news release.
Each unit includes one share and one share purchase warrant exercisable at $3.20 over the next three years.
Net proceeds will be used for general corporate purposes.
Aurora said in the release that it no longer expects to use its existing at-the-market facility, which still has $186 million outstanding.
Aurora shares trade as ACB on the Nasdaq and Toronto Stock Exchange.
Source: https://mjbizdaily.com/aurora-cannabis-closes-bought-deal-financing-yielding-172-5-million/