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June 3, 2022, 7:38 a.m. EDT

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

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By Ciara Linnane

Aurora Cannabis Inc. /zigman2/quotes/210559470/composite ACB -2.08% /zigman2/quotes/203734337/delayed CA:ACB -1.96% 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 +0.0034% has fallen 43% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.57% has fallen 12%.

/zigman2/quotes/210559470/composite
US : U.S.: Nasdaq
$ 1.11
-0.02 -2.08%
Volume: 10.07M
Dec. 8, 2022 2:58p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$294.06 million
Rev. per Employee
$123,259
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/zigman2/quotes/203734337/delayed
CA : Canada: Toronto
$ 1.50
-0.03 -1.96%
Volume: 2.29M
Dec. 8, 2022 2:42p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$400.21 million
Rev. per Employee
$157,323
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/zigman2/quotes/213173823/composite
US : U.S.: NYSE Arca
$ 2.92
+0.0001 +0.0034%
Volume: 35,383
Dec. 8, 2022 2:39p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,956.46
+22.54 +0.57%
Volume: 0.00
Dec. 8, 2022 2:59p
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