• Aurora Cannabis Inc. (ACB) has repurchased approximately $25.3 million principal amount of its senior convertible notes
  • $24.3 million of which is in cash from gained interest
  • Aurora is an Edmonton-based company working in the cannabis industry for both the medical and consumer markets
  • The transaction is meant to reduce the company’s debt and annual cash interest costs
  • Aurora Cannabis Inc. (ACB) is up 2.54 per cent and is trading at $2.02 per share as of 1:15 p.m. ET

Aurora Cannabis (ACB) has repurchased approximately $25.3 million principal amount of its senior convertible notes.

This includes an accumulated interest of $24.3 million in cash.

Aurora is an Edmonton-based company working in the cannabis industry for medical and consumer markets.

The company stated this represents a repurchase of a portion of the notes at a 5.25 per cent discount to par value

According to Aurora, the purpose of the transaction was to reduce its debt and annual cash interest costs. Annual cash interest savings from the repurchases of motes made from the third fiscal quarter this year and onwards are now up to $9.5 million.

Aurora stated it has a strong cash balance sheet valued at $455 million, which includes this new transaction. The company expects to achieve a positive Adjusted EBITDA run rate by the first half of next year.

Aurora Cannabis Inc. (ACB) is up 2.54 per cent and is trading at $2.02 per share as of 1:15 p.m. ET

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