Aurora Cannabis Repurchases $76.1M Principal Amount Of Convertible Notes

Aurora Cannabis Inc. ACB ACB has repurchased an aggregate of approximately CA$102.5 million ($76.1 million) principal amount of its convertible senior notes at a total cost, including accrued interest, of CA$99.4 million ($73.8 million) in cash. Following completion of this repurchase, Aurora will have approximately CA$148 million ($110 million) of notes outstanding.

The purpose of the transaction, which represents a repurchase of a portion of the notes at a 4.5% discount to par value, was to reduce the company's debt and annual cash interest costs. Aurora has repurchased an aggregate of approximately CA$316.5 million ($235 million) principal amount of its convertible senior notes over the last twelve months, resulting in annual cash interest savings of approximately CA$17.4 million ($12.9 million).

The company reiterated its expectation of achieving adjusted EBITDA profitability by December 31, 2022.

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

Photo by Giorgio Trovato on Unsplash

Aurora Cannabis: What Makes Upside Potential For This Pot Stock? Analyst Has An Idea

Spain Seizes World's Largest Cannabis Haul To Date, Group Busted Was Supplying Most Of Europe

Market News and Data brought to you by Benzinga APIs