Aurora Cannabis Takes Bold Step Towards Financial Recovery
Portfolio Pulse from Jelena Martinovic
Aurora Cannabis Inc. has repurchased an aggregate of roughly CA$12.3 million ($9 million) principal amount of its convertible senior notes, reducing its debt and annual cash interest costs. The company aims to achieve positive free cash flow in 2024. Following these repurchases, Aurora will have approximately CA$53 million of notes outstanding. Aurora's shares traded 4.65% higher at $0.5536 per share during the pre-market session on Monday morning.
September 11, 2023 | 12:20 pm
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Aurora Cannabis has repurchased a significant amount of its convertible senior notes, reducing its debt and aiming for positive free cash flow in 2024. This has resulted in a 4.65% increase in share price.
The repurchase of convertible senior notes by Aurora Cannabis is a positive move towards financial recovery. This action reduces the company's debt and annual cash interest costs, which is likely to be viewed favorably by investors. As a result, the company's share price has increased by 4.65% in pre-market trading.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100