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On May 20, a securities team from Jenner & Block’s Corporate Department closed on a new $300 million at-the-market (ATM) offering facility for Aurora Cannabis Inc., which is listed on the New York and Toronto Stock Exchanges under the stock symbol “ACB.” The ATM facility enables our client to sell, from time to time, up to $300 million of its shares at times of its choosing by tendering notice to the banks with which it entered into the facility (functioning a bit like the corporate equivalent of an ATM machine for individuals). Our client plans to use the funds for general corporate purposes.
Aurora is a global leader in the cannabis industry serving both the medical and consumer markets. Headquartered in Edmonton, Alberta, Aurora is a pioneer in global cannabis dedicated to helping people improve their lives. Providing customers with innovative, high-quality cannabis products, Aurora’s brands continue to break through as industry leaders in the medical, performance, wellness, and recreational markets wherever they are launched.