Aurora Cannabis shares fall 40% after share sale amendment

Aurora Cannabis shares fall 40% after share sale amendment
CANNANNEW REPORT

The Canadian Press reports EDMONTON – Aurora Cannabis Inc.’s share price fell by about 40 per cent, after the company announced it sold US$150 million worth of shares. The Edmonton marijuana company’s share price was $3.47 when trading ended Thursday, but by mid-morning Friday, had fallen to $2.07 and closed at $2.14. The sale of shares was part of an amendment Aurora made to a previously announced bought deal financing. The amendment made it possible for a syndicate of underwriters led by Canaccord Genuity and BMO Capital Markets to purchase 61.2 million Aurora units for US$2.45 each. Each unit is comprised of one common share in Aurora and one common share purchase warrant, which can be used to acquire one common share for US$3.20 each in the next 36 months. Aurora has yet to record a profit and in recent years has been trying to drive revenues by better aligning supply with demand, laying off staff and closing facilities. https://www.pentictonherald.ca/business_news/national_business/article_cbee0532-80d7-5ab1-98be-9fbce7194804.html

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