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May 26, 2022, 6:16 p.m. EDT

Aurora Cannabis Announces Bought Deal Financing, Shares Drop 16%

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By Stephen Nakrosis

Shares of Aurora Cannabis Inc. were lower in Thursday's late trading session, after the company announced $125 million of bought deal financing.

Under the terms of the deal, a group of underwriters led Canaccord Genuity and BMO Capital Markets agreed to buy on bought deal basis 51.1 million units of the company for $2.45 per unit. The units will consist of one common share of the company and a warrant to buy a common share for $3.20.

Aurora said the deal will have gross proceeds of about $125.2 million.

At 6:07 p.m. EDT, the company's shares were trading 16.12% lower, at $2.29 per share. The stock finished the day's regular session with a 1.87% gain, closing at $2.93 per share.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

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