Aurora Cannabis repurchases $20 million of convertible notes to lower interest costs

Aurora Cannabis Inc. /zigman2/quotes/210559470/composite ACB +1.80% /zigman2/quotes/203734337/delayed CA:ACB +1.61% said Friday it has repurchased $20 million of convertible bonds in a move aimed at reducing its annual interest costs. The Edmonton, Alberta-based cannabis company said it paid $19.2 millin in cash for the notes, equal to a 5.25% discount to par value. The company expects its annual cash interest savings from the deal from the third quarter onward to come to $7.5 million. Aurora shares were up 0.6% premarket, but have fallen 71% in the year to date, while the Cannabis ETF /zigman2/quotes/213173823/composite THCX +3.38% has fallen 43% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.59% has fallen 12%.

/zigman2/quotes/210559470/composite

Add to watchlist ACB

Aurora Cannabis Inc.

US : U.S.: Nasdaq

$ 0.47

+0.0083 +1.80%

Volume: 7.85M

Dec. 1, 2023 4:00p

P/E Ratio

0.59

Dividend Yield

N/A

Market Cap

$198.84 million

Rev. per Employee

$178,735

/zigman2/quotes/203734337/delayed

Add to watchlist CA:ACB

Aurora Cannabis Inc.

CA : Canada: Toronto

$ 0.63

+0.01 +1.61%

Volume: 774,196

Dec. 1, 2023 4:00p

P/E Ratio

0.58

Dividend Yield

N/A

Market Cap

$269.60 million

Rev. per Employee

$241,009

/zigman2/quotes/213173823/composite

Add to watchlist THCX

AXS Cannabis ETF

US : U.S.: NYSE Arca

$ 17.00

+0.56 +3.38%

Volume: 2,551

Dec. 1, 2023 12:22p

/zigman2/quotes/210599714/realtime

Add to watchlist SPX

S&P 500 Index

US : S&P US

4,594.63

+26.83 +0.59%

Volume: 0.00

Dec. 1, 2023 4:51p