Aurora Cannabis Inc. Common Shares - ACB STOCK NEWS

Aurora Cannabis (ACB) has announced a proposed overnight marketed public offering of units at US$7.50 per unit, aiming to raise approximately US$125 million. Each unit consists of one common share and half a warrant, with an exercise price of US$9.00 for the warrants. The offering's final terms will be established at pricing, subject to market conditions and approvals from relevant exchanges. The funds raised will be used for growth opportunities and general corporate purposes. A 30-day option for underwriters to purchase an additional 15% of the units is also planned.

Aurora Cannabis (ACB) reported Q1 2021 net revenue of $67.8 million, a slight increase from the previous quarter, driven by strong growth in the international medical market, which rose 41%. The company's medical cannabis revenue was $33.5 million while consumer cannabis revenue dipped to $34.3 million, a 3% decline. Notable achievements include an adjusted gross margin of 48% and improved liquidity, with a cash balance of approximately $250 million. However, an adjusted EBITDA loss of $57.9 million was reported, primarily due to restructuring costs.

Aurora Cannabis (ACB) has filed a final short form base shelf prospectus with Canadian regulators and the SEC, enhancing financial flexibility for business objectives. The company reaffirms its fiscal Q1 expectations, predicting cannabis net revenue between $60 million and $64 million, slightly down from $67.5 million in Q4 2020. Aurora expects to maintain compliance with financial covenants and anticipates SG&A costs around $40 million. The company aims for positive adjusted EBITDA in Q2 2021, following the divestiture of non-core subsidiaries.

Aurora Cannabis Inc. (ACB) announced a conference call on November 9, 2020, at 8:30 a.m. ET to discuss its first quarter fiscal year 2021 results, ending September 30, 2020. The financial results will be released before market open on the same day. Furthermore, Aurora has updated its director compensation plans, capping non-employee director equity compensation at $150,000, with a maximum of $97,500 in stock options. A new Performance Share Unit Plan is subject to shareholder approval on November 12, 2020.

Aurora Cannabis (ACB) announced the completion of its At-The-Market (ATM) program and the filing of a new preliminary base shelf prospectus. This allows for offerings of up to $500 million in various securities over a 25-month period. The company reports a current cash position of approximately $272 million and an undrawn revolver capacity of $11 million. The filing aims to enhance financial flexibility to support future growth.

Aurora Cannabis Inc. reported Q4 2020 results, revealing total net revenue of $72.1 million, a 5% decline from Q3. Cannabis revenue also dropped by 3% to $67.5 million, despite a 36% rise in volume sold. Medical cannabis revenue rose 4% to $32.2 million, benefiting from strong European growth. Adjusted EBITDA loss improved to $34.6 million, a reduction from $50.4 million in the prior quarter. SG&A expenses decreased by 18% to $60.1 million. For Q1 2021, cannabis net revenue is projected between $60 million and $64 million, with expectations for positive adjusted EBITDA by Q2 2021.

Aurora Cannabis Inc. (ACB) announced a conference call for September 22, 2020, to discuss its fourth quarter and full fiscal year 2020 results, with earnings to be reported post-market. CEO Miguel Martin and CFO Glen Ibbott will host the call. Additionally, the company will file annual financial statements and hold a virtual Annual General Meeting on November 12, 2020. Notably, Aurora anticipates reporting material weaknesses in its internal control framework due to significant changes made during the fiscal year, though it does not expect any changes to its previously reported financial results.

Aurora Cannabis has appointed Miguel Martin as the new CEO, succeeding Michael Singer. The company anticipates Q4 2020 net revenue between $70 million and $72 million, slightly down from $75.5 million in Q3 2020. Cannabis net revenue is expected to range from $66 million to $68 million. Aurora plans to record up to $1.8 billion in goodwill impairment charges as part of its restructuring. The company also secured amendments to its credit facility for greater financial flexibility and expects to achieve positive Adjusted EBITDA in Q2 2021.

Aurora Cannabis has appointed Miguel Martin as its new Chief Executive Officer, effective immediately. Martin, who has extensive experience in consumer goods and regulated industries, previously served as Aurora's Chief Commercial Officer. He replaces Michael Singer, who was Interim CEO since February 2020 and will continue as Executive Chairman. Martin expressed confidence in Aurora's potential, citing its deep industry knowledge and commitment to quality as key strengths. The leadership change aims to drive sustainable growth and profitability for the company.