Aurora Cannabis - CEO, Miguel Martin.
CEO, Miguel Martin.
Source: Aurora Cannabis.
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  • Aurora (ACB) has upsized its previously announced financing to gross proceeds of up to US$150M
  • The company will use the funds for general corporate purposes
  • The parties expect the offering to close on or about June 1, 2022
  • Aurora is a global leader in medical and recreational cannabis
  • Aurora (ACB) is down by 39.19 per cent trading at $2.11 per share

Aurora (ACB) has upsized its previously announced bought-deal financing.

A syndicate of underwriters led by Canaccord Genuity and BMO Capital Markets will purchase 61.2M Aurora units on a bought-deal basis priced at US$2.45.

Each unit is comprised of one common share and one common share purchase warrant.

Each warrant is exercisable into one common share priced at US$3.20 for 36 months following the closing date, subject to adjustment in certain events.

The over-allotment option stands at 15 per cent of the offering.

The company will use the funds for general corporate purposes.

A prospectus supplement, base shelf prospectus and registration statement are or will soon be available for potential investors to review.

The parties expect the offering to close on or about June 1, 2022.

Aurora is a global leader in medical and recreational cannabis.

Aurora (ACB) is down by 39.19 per cent trading at $2.11 per share as of 10:27 am EST.

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