Aurora Cannabis Repurchases $23 Million Principal Amount of Convertible Notes
- 2 years ago
Aurora Cannabis announced that it has repurchased an aggregate of approximately $31.3 million (US$23.0 million) principal amount of its convertible senior notes at a total cost, including accrued interest, of $29.8 million in cash.
The purpose of the transaction, which represents a repurchase of a portion of the Notes at a 5.45% discount to par value, was to reduce the Company's debt and annual cash interest costs.
Aurora's balance sheet remains amongst the strongest in the industry, with approximately $380 million of cash and cash equivalents inclusive of the transaction announced and the Company reiterates its expectation of achieving a positive Adjusted EBITDA run rate by December 31, 2022.
The purpose of the transaction, which represents a repurchase of a portion of the Notes at a 5.45% discount to par value, was to reduce the Company's debt and annual cash interest costs.
Aurora's balance sheet remains amongst the strongest in the industry, with approximately $380 million of cash and cash equivalents inclusive of the transaction announced and the Company reiterates its expectation of achieving a positive Adjusted EBITDA run rate by December 31, 2022.