Aurora Cannabis Inc. Announces US$125 Million Bought Deal Financing

Cannabtimes

<![CDATA[EDMONTON, AB, Jan. 21, 2021 /CNW/ – PRESS RELEASE – Aurora Cannabis Inc., a Canadian cannabis company, has announced that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets and ATB Capital Markets, under which the underwriters have agreed to buy on bought deal basis 12,000,000 units of the company at a price of US$10.45 per unit for gross proceeds of approximately US$125 million. Each unit will be comprised of one common share of the company and one half of one common share purchase warrant of the company. Each warrant will be exercisable to acquire one common share of the company for a period of 36 months following the closing date of the offering at an exercise price of US$12.60 per warrant share, subject to adjustment in certain events.The company has granted the underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the offering, to purchase up to an additional 10% of the offering to cover over-allotments, if any. This option may be exercised by the underwriters for additional units, common shares, warrants or any combination of such securities.  The net proceeds of the offering will be used for general corporate purposes, which may include opportunistically reducing debt. The company believes that the offering fits with its broader strategy to have a strong balance sheet while maintaining maximum flexibility to invest and build towards being a leader in global cannabinoids.The closing of the offering is expected to take place on or about Jan. 26, 2021 and will be subject to customary conditions, including approvals of the Toronto Stock Exchange and the New York Stock Exchange.A prospectus supplement to the company’s short form base shelf prospectus dated Oct. 28, 2020 will be filed with the securities…

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Source : Aurora Cannabis Inc. Announces US5 Million Bought Deal Financing

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