Aurora Cannabis Repurchases Principal Amount of $76.1M Convertible Notes – Aurora Cannabis (NASDAQ: ACB)

Aurora Cannabis Inc. acb acb Is repurchase Overall approx CA$102.5 million ($76.1 million) principal amount of its convertible senior notes CA$99.4 million ($73.8 million) in cash at total cost including accrued interest. Following completion of this repurchase, Aurora will have approximately CA$148 million ($110 million) in outstanding notes.

The object of the transaction, which represents the repurchase of a portion of the notes 4.5% off on par value, was to reduce the company’s debt and annual cash interest costs. Aurora has repurchased approximately CA$316.5 million ($235 million) principal amount of its convertible senior notes over the past twelve months, resulting in Annual Cash Interest Savings almost CA$17.4 million ($12.9 million).

The company reiterated its expectation to achieve adjusted EBITDA profitability by December 31, 2022.

get your daily dose of cannabis news Benzinga on Cannabis. Don’t miss out on any important developments in the industry.

photo by giorgio trovato Feather unsplash

related news

Source link

Leave a Comment