Canadian Cannabis Giant Takes Strategic Steps To Reduce Debt & Boost Financial Stability
Portfolio Pulse from Jelena Martinovic
Aurora Cannabis Inc. (NASDAQ:ACB) has received approval to transfer its common shares listing from the Nasdaq Global Select Market to the Nasdaq Capital Market. This move is expected to allow the company an additional 180 days to regain compliance with the Nasdaq Listing Rule 5450(a)(1). Aurora also announced that it has agreed to repurchase an aggregate of roughly CA$13 million ($9.6 million) principal amount of its convertible senior notes. This is part of the company's strategy to reduce its debt and boost financial stability.
September 19, 2023 | 1:16 pm
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Aurora Cannabis Inc.'s transfer of its shares listing and repurchase of its convertible senior notes could potentially improve its financial stability and help regain compliance with Nasdaq Listing Rule.
The company's decision to transfer its shares listing to the Nasdaq Capital Market is expected to provide it with an additional 180 days to regain compliance with the Nasdaq Listing Rule. This, along with the repurchase of its convertible senior notes, is part of Aurora's strategy to reduce its debt and improve its financial stability, which could potentially have a positive impact on its stock price.
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