On June 1, 2022, Aurora Cannabis Inc. announced the closing of a previously disclosed bought deal offering, raising gross proceeds of approximately US$172.5 million, which was equivalent to about C$216 million at the time of the transaction. The offering consisted of approximately 70.4 million units priced at US$2.45 (approximately C$3.06) per unit, including the full exercise of the underwriters’ over-allotment option. Each unit comprises one common share of Aurora and one common share purchase warrant, with each warrant exercisable at US$3.20 (approximately C$4.00) for one additional share over a 36-month period following the closing. The offering was led by Canaccord Genuity and BMO Capital Markets, who acted as joint bookrunners.

Aurora intends to use the net proceeds from the offering for general corporate purposes. As a result of the capital raised, the company does not anticipate utilizing its previously announced at-the-market (ATM) facility in the near term, which still has approximately US$186 million in available capacity. In connection with the offering, Aurora filed a prospectus supplement on May 27, 2022, under the U.S./Canada Multijurisdictional Disclosure System. This supplement, in addition to the base shelf prospectus dated March 29, 2021, was filed with Canadian securities regulators (excluding Quebec) and the U.S. Securities and Exchange Commission (SEC). While legal counsel for the transaction was not specified in the release, copies of the prospectus documents are available via SEDAR and EDGAR.