EDMONTON – Shares of Aurora Cannabis Inc. were down more than 10 per cent after the cannabis company announced plans to raise $33.8 million in a share offering.<\/p>\n
The company says Canaccord Genuity has agreed to buy, on a bought deal basis, 46,250,000 shares of the company at a price of 73 cents per share.<\/p>\n
It has also granted Canaccord Genuity an over-allotment option for up to an additional 6,937,500 shares on the same terms. If the over-allotment option is exercised in full, the offering will total $38.8 million.<\/p>\n
Aurora says it plans to use the money raised to repay the remainder of its outstanding convertible senior notes at or prior to maturity.<\/p>\n
The company says the remainder, if any, will be used for strategic purposes, including potential acquisitions.<\/p>\n
Aurora's stock price was down 13 per cent at 79 cents per share in early trading on the Toronto Stock Exchange.<\/p>\n
This report by The Canadian Press was first published Sept. 28, 2023.<\/span><\/em><\/p>\n Companies in this story: (TSX:ACB)<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" EDMONTON – Shares of Aurora Cannabis Inc. were down more than 10 per cent after the cannabis company announced plans to raise $33.8 million in a share offering. The company says Canaccord Genuity has agreed to buy, on a bought deal basis, 46,250,000 shares of the company at a price of 73 cents per share. […]<\/p>\n","protected":false},"author":362,"featured_media":805,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"guid":"","source":"The Canadian Press","byline":"The Canadian Press","published":"2023-09-28T09:00:33","updated":"2023-09-28T22:00:00","_infotelid":"IT100791","_prepressid":"100791","_multisite_post_sync":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[379,2,391,381],"tags":[],"region":[309,310,311,312],"class_list":["post-806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured3","category-in420","category-nonit","category-topnews","region-kamloops","region-kelowna","region-penticton","region-vernon"],"blocksy_meta":[],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/infonews.ca\/in420\/news\/806\/aurora-cannabis-to-raise-33-8m-in-share-offering-plans-to-repay-convertible-debt-2\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Aurora Cannabis to raise $33.8M in share offering, plans to repay convertible debt","url":"http:\/\/infonews.ca\/in420\/news\/806\/aurora-cannabis-to-raise-33-8m-in-share-offering-plans-to-repay-convertible-debt-2\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/infonews.ca\/in420\/news\/806\/aurora-cannabis-to-raise-33-8m-in-share-offering-plans-to-repay-convertible-debt-2\/"},"thumbnailUrl":"https:\/\/infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/MediaItemID100791-9262.jpg?w=150&h=150&crop=1","image":{"@type":"ImageObject","url":"https:\/\/infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/MediaItemID100791-9262.jpg"},"articleSection":"featured3","author":[{"@type":"Person","name":"Howard Alexander"}],"creator":["Howard Alexander"],"publisher":{"@type":"Organization","name":"iN420","logo":""},"keywords":[],"dateCreated":"2023-09-28T16:00:33Z","datePublished":"2023-09-28T16:00:33Z","dateModified":"2023-09-29T05:00:00Z"},"rendered":"