Aurora Cannabis Raises $125 Million in "Bought Deal" Financing Arrangement

Aurora Cannabis (NYSE: ACB) announced yesterday that it has raised $125 million by issuing 12 million units priced at $10.45 each through a financing strategy called a "bought deal." The units are one share of the marijuana grower's stock and one half of a share's purchase warrant that can be exercised anytime over the next three years to acquire a full share of stock at a price of $12.60 per warrant share. BMO Capital Markets and ATB Capital Markets will be acquiring the units and have another 30 days to acquire an additional 10% of the total at the same terms if there is an overallotment.