Aurora Cannabis shares surge after hiring billionaire activist investor Nelson Peltz as an advisor
Aurora Cannabis announced Wednesday that it has appointed longtime activist investor Nelson Peltz as a strategic advisor to the company.
Peltz will "work collaboratively and strategically to explore potential partnerships that would be the optimal strategic fit for successful entry into each of Aurora's contemplated market segment," Aurora said in a press release.
Aurora shares surged 11 percent in premarket trading following the release. The company added that it has granted Peltz options to purchase 19.96 million common Aurora shares at a price of CA$10.34.
"I believe Aurora has a solid execution track record, is strongly differentiated from its peers, has achieved integration throughout the value chain and is poised to go to the next level across a range of industry verticals," Peltz said in the release.
"I also believe that Canadian licensed producers, and Aurora in particular, are well positioned to lead in the development of the international cannabis industry as regulations evolve, with a strong, globally replicable operating model," Peltz added.
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