Aurora has been able to slow its cash burn. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. Aurora Cannabis stock traded up about 2.6% at $8.27 in Monday’s premarket session. The coronavirus pandemic has significantly damaged the food... ALSO READ: 5 Top Health Care Stocks to Buy Now on the Goldman Sachs Conviction List. Aurora has indicated that it plans to offer another $350 million in new shares in small ATM offerings. To raise additional cash, the company said it was planning a renewed “at-the-market” or ATM program to raise additional equity capital on top the roughly $350 million that remains available under its outstanding shelf prospectus. © 2020 TheStreet, Inc. All rights reserved. Markit’s dismal Preliminary business activity data on both sides of the Atlantic underscored growing risks of the coronavirus resurgence. EUR/USD drops to fresh two-month lows below 1.1650, GBP/USD jumps back above 1.2700, eyes on Sunak, Bailey, Gold struggles near two-month lows, around $1950 area, Forex Today: US dollar keeps shining as investors shun risk amid coronavirus, economic woes, WTI: Oil sellers face rejection below $39.30 for third straight day. Finally, Aurora Cannabis Inc. (ACB) implemented the announced 12:1 reverse stock split, mainly (exclusively?) The Canadian cannabis company on Monday announced the reverse stock split, which is scheduled for May 11, as a way to both regain compliance with rules of the New York Stock Exchange, which require action if a stock trades below a buck for 30 days, and also as a way to boost liquidity. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Aurora does not want to borrow more. ACB made effective the 12:1 reverse split and trades around 7.70. WTI fades the drop to sub-$39.30 levels for the third consecutive day. aimed at preventing the cannabis company from being delisted from the New York Stock Exchange (NYSE). All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The use of this website constitutes acceptance of our user agreement. Prior to the 1-for-12 split, the stock was trading for $0.66, and priced under a … Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. The company has exhausted this source. Here’s basically what that means. 2019) and finally 10.32 (monthly high Mar.2019). Shares of Aurora Cannabis (ACB) - Get Report slumped on Monday after the embattled Canadian marijuana producer said it has approved plans for a 1-for-12 reverse stock split, after the company’s shares traded below $1 for more than 30 days. Aurora Cannabis executed a 1-for-12 reverse stock split to lift the share price and remain eligible for trading on the New York Stock Exchange. Aurora has been making other moves, including at-the-market (ATM) share offerings and changing its chief executive. The facility was a major part of its MedReleaf acquisition. The risk-off mood did little to lend any support or stall the ongoing bearish trajectory. Eyes on US Jobless Claims, Powell's testimony. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. On Monday, Aurora enacted a reverse stock split to comply with the New York Stock Exchange’s regulations. EUR/USD renews two-month lows below 1.1650, as disappointing German IFO Survey adds to the growth concerns. Following these changes, C$50 million remains in the company’s revolver, as well as C$507 in senior secured term loans and senior unsecured convertible debt. A 12-for-1 reverse stock split by Canada-based pot grower Aurora Cannabis became effective Monday. The risk-off mood further fuels the US dollar's haven demand across the board. However, Sept. 18 high remains a level to beat for the bulls. … The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. On a pre-split basis, Aurora’s 52-week range is $0.60 to $9.00. Shares of Aurora Cannabis - Get Report slumped on Monday after the embattled Canadian marijuana producer said it has approved plans for a 1-for-12 reverse stock split… Stock split history for Aurora Cannabis since 2020. It remains to be seen, however, if plans of the pot-stock to shrink its balance sheet, increase production capacity and implement large layoffs are able to attract sustainable buying interest in the future. Action Alerts PLUS is a registered trademark of TheStreet, Inc. Aurora Cannabis will soon have considerably fewer shares of common stock outstanding.. In March, the company reduced its term loan facility by C$96.5 million. Information on these pages contains forward-looking statements that involve risks and uncertainties. But well-known companies can have stock splits, too. The company- being at the risk of being delisted from the NYSE- announced a reverse stock split in order to bring the price per stock above $1. "The company intends to use a portion of this available capacity to provide further balance sheet strength and preserve flexibility given macroeconomic uncertainty caused by Covid-19," Aurora said in a statement.