What's Going On With Aurora Cannabis Stock?
Portfolio Pulse from Erica Kollmann
Aurora Cannabis Inc. has repurchased nearly $9 million of its convertible senior notes in multiple transactions to reduce debt and annual cash interest costs. This move is part of the company's goal to achieve positive free cash flow in 2024. The transactions will save Aurora more than $485 thousand in annualized interest payments. After the repurchases, Aurora will have approximately $39 million of convertible senior notes outstanding. The company's shares are trading higher following the announcement.
September 11, 2023 | 2:24 pm
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POSITIVE IMPACT
Aurora Cannabis' repurchase of its convertible senior notes is a positive move towards reducing its debt and annual cash interest costs. This has resulted in the company's shares trading higher.
The repurchase of convertible senior notes by Aurora Cannabis is a strategic move to reduce its debt and annual cash interest costs. This is seen as a positive step towards the company's financial stability, which has resulted in a positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100