Aurora Cannabis Repays $465M Convertible Notes
Ticker: ACB · Form: 6-K · Filed: 2024-03-01T00:00:00.000Z
Sentiment: bullish
Topics: debt-reduction, financing, news-release
TL;DR
Aurora Cannabis is debt-free on its convertible notes, paying off ~$465M.
AI Summary
Aurora Cannabis Inc. announced on February 29, 2024, that it has completed the final repayment of its convertible senior notes, totaling approximately $465 million. This action is part of the company's ongoing efforts to strengthen its financial position and reduce debt.
Why It Matters
This repayment signifies a significant step in Aurora Cannabis's deleveraging strategy, potentially improving its financial flexibility and reducing future interest expenses.
Risk Assessment
Risk Level: low — The filing is a routine report of a completed financial transaction, with no new material risks introduced.
Key Numbers
- ~$465 million — Convertible Senior Notes Repayment (Represents the total amount paid to fully extinguish the company's convertible senior notes.)
Key Players & Entities
- Aurora Cannabis Inc. (company) — Registrant
- Miguel Martin (person) — Chief Executive Officer
- $465 million (dollar_amount) — Amount of convertible senior notes repaid
FAQ
What is the primary purpose of this Form 6-K filing?
The primary purpose is to report the completion of the final repayment of Aurora Cannabis Inc.'s convertible senior notes, as detailed in the news release dated February 29, 2024.
When was the final repayment of the convertible senior notes completed?
The final repayment was completed on February 29, 2024.
What was the approximate total amount of the final repayment?
The approximate total amount of the final repayment was $465 million.
Who signed the report on behalf of Aurora Cannabis Inc.?
Miguel Martin, Chief Executive Officer, signed the report on behalf of Aurora Cannabis Inc.
Which exhibit is submitted with this Form 6-K?
Exhibit 99.1, a News Release dated February 29, 2024, is submitted with this Form 6-K.
From the Filing
0001279569-24-000222.txt : 20240301 0001279569-24-000222.hdr.sgml : 20240301 20240229174135 ACCESSION NUMBER: 0001279569-24-000222 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20240229 FILED AS OF DATE: 20240301 DATE AS OF CHANGE: 20240229 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AURORA CANNABIS INC CENTRAL INDEX KEY: 0001683541 STANDARD INDUSTRIAL CLASSIFICATION: MEDICINAL CHEMICALS & BOTANICAL PRODUCTS [2833] ORGANIZATION NAME: 03 Life Sciences IRS NUMBER: 000000000 STATE OF INCORPORATION: A1 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38691 FILM NUMBER: 24705478 BUSINESS ADDRESS: STREET 1: 2207 90B STREET SW CITY: EDMONTON STATE: A0 ZIP: T6X 1V8 BUSINESS PHONE: 604-362-5207 MAIL ADDRESS: STREET 1: 409 GRANVILLE STREET STREET 2: SUITE 1700 CITY: VANCOUVER STATE: A1 ZIP: V6C 1T2 6-K 1 aurora_6k.htm FORM 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of February 2024 Commission File No. 001-38691 AURORA CANNABIS INC. (Translation of registrant's name into English) 3498 63 Avenue, Leduc, Alberta, Canada T9E 0G8 (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F Form 20-F ☐ Form 40-F ☒ SUBMITTED HEREWITH Exhibits Description 99.1 News Release dated February 29, 2024 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. AURORA CANNABIS INC. /s/ Miguel Martin Miguel Martin Chief Executive Officer Date: February 29, 2024 EX-99.1 2 ex991.htm NEWS RELEASE DATED FEBRUARY 29, 2024 Exhibit 99.1 Aurora Completes Final Repayment of Convertible Senior Notes Representing ~$465 Million in Total Repayments Since 2021; Cannabis Operations Are Now Debt Free[1] NASDAQ | TSX: ACB EDMONTON, AB, Feb. 29, 2024 /CNW/ - Aurora Cannabis Inc. ("Aurora" or the "Company") (NASDAQ: ACB) (TSX: ACB), the Canada-based leading global medical cannabis company, today announced that it has repaid an aggregate of approximately $7.2 million (US$5.3 million), representing the final payment on the principal amount of its convertible senior notes ("Notes") at a total cash cost of $7.4 million (~US$5.5 million), including accrued interest. Following the completion of this repayment, Aurora's remaining debt 1 of $47.9 million relates to Bevo Farms Ltd. "This final repayment represents a significant milestone for Aurora, as we have now fully paid off nearly $465 million in convertible debt," stated Miguel Martin, Chief Executive Officer of Aurora. "Our focus on balance sheet strength has saved the Company millions in interest and we feel confident that our continued financial discipline will support the achievement of our target of positive free cash flow this calendar year," Mr. Martin added. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy any security and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offering would be unlawful. 1 Aurora’s only remaining debt will be $47.9 million relating to Bevo Farms Ltd as detailed in the FY2024 Q3 Financial Statements. About Aurora Aurora is opening the world to cannabis, serving both the medical and consumer markets across Canada, Europe, Australia and South America. Headquartered in Edmonton, Alberta, Aurora is a pioneer in global cannabis, dedicated to helping people improve their lives. The Company's adult- use brand portfolio includes Aurora Drift, San Rafael '71, Daily Special, Tasty's, Being and Greybeard. Medical cannabis brands include MedReleaf, CanniMed, Aurora and Whistler Medic