Aurora Cannabis Is The Hottest Deal Around These Days
If the deal is completely subscribed, it will bring Aurora another $6 million under a special deal with the underwriters that is a one-time commission free arrangement. This deal is expected to close on or about November 2, which is also the date when the larger deal is expected to close.
It’s been an incredibly busy couple of months for Aurora. The company kicked off September by announcing it was supplying the German medical cannabis market. Then followed that up with an agreement with Namaste for hardware. In the beginning of October (seems so long ago) Aurora acquired BC Northern Lights and Urban Cultivator for C$3.85 million. Then last week, the company announced the $50 million deal to be used for expansion and general working capital purposes.
The OTC Market traded stock is up 48% for the past year reaching a 52-week high of $2.96 and was lately trading at $2.34. During the company’s last earnings report, Aurora did continue to deliver sales growth, but it also reported a net loss of $4.8 million. The company is sitting on a mountain of cash, $159 million as of that last quarter and this deal will add to the kitty.
- Analysts Love Aurora Cannabis More These Days, but Here's Why Canopy Growth Is Performing Better | The Motley Foolwww.fool.comMay 7, 2019
- Canada's Aurora Cannabis Will Supply Medical Marijuana To Italyhightimes.comJanuary 19, 2018
- Aurora Cannabis Stock: Catalysts and Riskssmallcappower.comJune 25, 2019
- Aurora Cannabis Announces $50 Million Dealwww.greenmarketreport.comOctober 10, 2017