Aurora Repurchases ~US$9.0 Million Principal Amount of Convertible Notes; Continues Progress Towards Positive Free Cash Flow with less than ~US$39 Million of Notes Outstanding
- Aurora repurchased $12.3 million of its convertible senior notes, reducing debt and annual cash interest costs
- Transactions will save Aurora $0.66 million in annualized interest payments
- Aurora has reduced its convertible debt from US$345 million to below US$39 million
- None.
NASDAQ | TSX: ACB
The purpose of the transactions was to reduce the Company's debt and annual cash interest costs, reinforcing our commitment to achieving our target of positive free cashflow in calendar year 2024. In total, the transactions announced today will save Aurora
"As of today, Aurora has reduced its convertible debt from
This announcement does not constitute an offer to sell, or a solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful.
About Aurora
Aurora is opening the world to cannabis, serving both the medical and consumer markets. Headquartered in
Aurora's common shares trade on the NASDAQ and TSX under the symbol "ACB".
Forward Looking Statements
This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements made in this news release include, but are not limited to, statements regarding the Company's repurchase of convertible notes, savings in annualized interest payments, and the Company's commitment to prudent fiscal management and its ability to achieve positive free cash flow in calendar year 2024.
These forward-looking statements are only predictions. Forward looking information or statements contained in this news release have been developed based on assumptions management considers to be reasonable. Material factors or assumptions involved in developing forward-looking statements include, without limitation, publicly available information from governmental sources as well as from market research and industry analysis and on assumptions based on data and knowledge of this industry which the Company believes to be reasonable. Forward-looking statements are subject to a variety of risks, uncertainties and other factors that management believes to be relevant and reasonable in the circumstances could cause actual events, results, level of activity, performance, prospects, opportunities or achievements to differ materially from those projected in the forward-looking statements. These risks include, but are not limited to, the ability to retain key personnel, the ability to continue investing in infrastructure to support growth, the ability to obtain financing on acceptable terms, the continued quality of our products, customer experience and retention, the development of third party government and non-government consumer sales channels, management's estimates of consumer demand in
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SOURCE Aurora Cannabis Inc.