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Aurora Cannabis Inc (TSE:ACB | NYSE:ACB) CCO Cam Battley on Convertible Note; Dilution Unlikely


Aurora Cannabis Inc (TSE:ACB) (NYSE:ACB) (FRA:21P) CCO Cam Battley shares details of the company’s just announced US $300 million convertible debenture. Battley reveals that the notes mature in 2024 and highlights that if the option is exercised in full, the total amount of the deal increases to US $345 million. Battley realizes the announcement initially weighed on Aurora’s stock, suggesting investors feared further dilution of Aurora’s shares. Battley confirms that the notes can be settled in cash or stock and at Aurora’s discretion. He indicates the company intends to settle in cash, without additional dilution. Battley is excited about the number of institutional shareholders who took part in the convertible debenture. He believes bringing more institutional investors into the space will reduce volatility in Aurora’s stock specifically and the cannabis sector more broadly. This deal allows Aurora to bolster its coffers and maintain flexibility as the industry evolves and additional economic opportunities develop.


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