- Aurora Cannabis (NYSE:ACB) enters into an agreement with a syndicate of underwriters led by BMO Capital Markets and ATB Capital Markets, to buy on bought deal basis 12M units at a price of $10.45 per unit; gross proceeds of ~$125M.
- Underwriters' option to buy additional 10% shares of the offering.
- Net proceeds of the offering will be used for general corporate purposes, which may include opportunistically reducing debt.
- Offering is expected to take place on or about January 26, 2021.
- Shares -5.7% after hours to $10.53.
- Pot stocks rallied last week after Aphria topped expectations.