Aurora Cannabis Inc. (the “Company” or “Aurora”) (NASDAQ: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, today announced that it has repurchased an aggregate of approximately $102.5 million (US$76.1 million) principal amount of its convertible senior notes (“Notes”) at a total cost, including accrued interest, of $99.4 million (US$73.8 million) in cash. Following completion of this repurchase, Aurora will have approximately $148 million (US$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 $316.5 million (US$235 million) principal amount of its convertible senior notes over the last twelve months, resulting in annual cash interest savings of approximately $17.4 million (US$12.9 million).
Aurora’s balance sheet remains amongst the strongest in the industry, and the Company reiterates its expectation of achieving Adjusted EBITDA Profitability by December 31, 2022.
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.