Aurora Cannabis Inc. (NASDAQ:ACB) (TSX:ACB), has repurchased an aggregate of approximately CA$25.3 million ($20 million) principal amount of its convertible senior notes at a total cost, including accrued interest, of CA$24.3 million ($19.2 million) in cash.
The purpose of the transaction, which represents a repurchase of a portion of the notes at a 5.25% discount to par value, was to reduce the company's debt and annual cash interest costs. Annual cash interest savings from the repurchases of notes made from Q3 2022 onwards now total CA$9.5 million ($7.5 million).
Aurora's balance sheet is approximately CA$455 million in cash inclusive of the transaction announced, and the company reiterates its expectation of achieving a positive Adjusted EBITDA run rate by the first half of fiscal 2023.
About Aurora
Aurora is a global leader in the cannabis industry, serving both the medical and consumer markets. Headquartered in Edmonton, Alberta, Aurora is a pioneer in global cannabis, dedicated to helping people improve their lives. The company's adult-use brand portfolio includes Aurora Drift, San Rafael '71, Daily Special, Whistler, Being and Greybeard, as well as CBD brands, Reliva and KG7. Medical cannabis brands include MedReleaf, CanniMed, Aurora and Whistler Medical Marijuana Co.
Photo by CRYSTALWEED cannabis on Unsplash
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