Aurora shares dip in wake of USD$500M shelf prospectus announcement | 2020-11-05 | Investing News


Click to enlargeShares of Edmonton AB-based Aurora Cannabis (T.ACB) tumbled by about 14% over the past week after the licensed cannabis producer announced a USD$500 million shelf prospectus that the company plans to use for “continued financial flexibility.”

The prospectus comes after ACB said it had completed its previously filed at-the-market equity issuance program. Analyst Owen Bennett of Jefferies Financial Group said in a note to clients that the prospectus should ensure Aurora has enough cash to continue investing behind its top line for its Canadian operations while also looking at potentially expanding its presence in the U.S.

Aurora said it will also be providing additional preliminary quarterly sales figures for its upcoming Q1 results, predicting revenue at the high end of the $60-to-$64 million range.

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