Aurora Cannabis Inc Stock Price, News & Analysis

Aurora Cannabis Inc. (NASDAQ: ACB, TSX: ACB) has amended its bought deal financing, with underwriters led by Canaccord Genuity and BMO Capital Markets agreeing to purchase 61.2 million units at US$2.45 each, raising approximately US$150 million. Each unit includes a share and a warrant, which can be exercised at US$3.20. The underwriters have a 30-day option to buy an additional 15% of the offering. Proceeds will support general corporate purposes, with closing anticipated around June 1, 2022, pending standard approvals.

Aurora Cannabis Inc. (NASDAQ: ACB) announced a bought deal financing agreement to sell 51.1 million units at US$2.45 per unit, totaling approximately US$125.2 million. Each unit includes one common share and a warrant, exercisable for three years at US$3.20. The underwriters have a 30-day option to purchase 15% more units. The gross proceeds are intended for general corporate purposes. The offering is expected to close around June 1, 2022, subject to regulatory approvals.

Aurora Cannabis Inc. (NASDAQ: ACB) announced that its new medical cannabis production facility in Leuna, Germany has received EU-GMP certification. This milestone enables Aurora to produce and distribute premium medical cannabis in Germany, a market currently serving about 100,000 patients, presenting significant growth potential. The facility, awarded a contract in 2019 for 1,000 kg of cannabis annually over four years, is set to begin shipments to German pharmacies by month-end. CEO Miguel Martin emphasized the company’s commitment to high-quality production and expanding patient access in Germany.

Aurora Cannabis (ACB) reported Q3 2022 results, highlighting a 8% year-over-year increase in medical cannabis revenue to $39.4 million, driven by a 55% rise in international sales. The company has increased its expense savings target to $150-$170 million by H1 2023, up from $60-$80 million. Adjusted EBITDA loss narrowed to $12.3 million, showing improvement from prior quarters. Despite a 17% sequential decline in total revenue to $50.4 million, management remains optimistic about achieving positive adjusted EBITDA by mid-2023. The balance sheet is strong with $480.6 million in cash.

Aurora Cannabis has completed its acquisition of TerraFarma Inc., parent company of Thrive Cannabis, for an initial $38 million in cash and shares. Additionally, up to $30 million may be paid out based on Thrive meeting revenue targets within two years. This acquisition aims to strengthen Aurora's position in Canada's recreational cannabis market, focusing on premium products. Former Thrive CEO Geoff Hoover joins Aurora as SVP, Consumer, expected to enhance product quality and consumer offerings.

Aurora Cannabis announced a conference call scheduled for May 12, 2022, at 5:00 p.m. Eastern Time to discuss its third quarter fiscal year 2022 results. The financial results will be released after market close on the same day. CEO Miguel Martin and CFO Glen Ibbott will host the call, which will include a Q&A session. Aurora, a leader in the cannabis industry, continues to focus on innovation and quality in its product offerings for both medical and consumer markets.

Aurora Cannabis has announced its agreement to acquire Thrive Cannabis, parent company of the award-winning Greybeard brand, for $38 million. The acquisition is expected to close in Q4 fiscal 2022 and aims to enhance Aurora's position in the Canadian recreational market. This strategic move is projected to contribute immediate positive EBITDA and support Aurora’s goal of achieving profitability by H1 fiscal 2023. Thrive's experienced team will lead the Canadian recreational business, focusing on premium product offerings and leveraging innovative cultivation techniques.

Aurora Cannabis reported global cannabis net revenue of $60.6 million for Q2 2022, a 1% increase sequentially. The company achieved an Adjusted EBITDA loss of $9.0 million, improved by 22% compared to Q1 2022. Aurora expects to achieve total cost savings of $60 to $80 million by H1 2023, with approximately $60 million implemented to date. Medical cannabis revenue surged by 18% year over year to $45.7 million, while consumer cannabis revenue fell 48% to $14.8 million. The company remains a leading player in the global medical cannabis market, experiencing a 24% increase in international revenue.

Aurora Cannabis Inc. (NASDAQ: ACB) announced the launch of KG7, a new high-quality CBD product line under its subsidiary Reliva, aimed at adult consumers with active lifestyles. The KG7 lineup includes gummies, topical creams, CBD oils, and drink mixes, all made from 100% hemp-derived CBD isolate and free of THC. Reliva aims to solidify its brand as the leading CBD provider in brick-and-mortar stores in the U.S. The products are available for purchase online and in various convenience stores across the United States.