A total cost of CA $29.8 million in cash was repurchased by Aurora Cannabis Inc. ACB ACB, which consists of an aggregate of approximately CA $31.3 million US $23.0 million principal amount of its convertible senior notes.
The purpose of the transaction was to reduce the company's debt and annual cash interest costs, as well as the repurchase of a portion of the notes at a 5.45% discount to par value. The repurchases of notes from Q 3 2022 onwards have resulted in a total of approximately $11.9 million in cash interest savings.
The balance sheet of Aurora remains the strongest in the industry, with approximately CA $380 million of cash and cash equivalents, including approximately CA $52 million of restricted cash inclusive of the transaction announced today, and the company reiterates its expectation of a positive Adjusted EBITDA run rate by December 31, 2022.
This announcement does not constitute an offer to sell or sell any security, and will not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful.
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