

Please try another search
(Reuters) - Aurora Cannabis Inc's (TO:ACB) (N:ACB) U.S.-listed shares fell nearly 14% in morning trade on Monday after the Canadian pot producer renewed an at-the-market offering under which it can raise as much as $350 million in equity capital.
The company said its board also approved a reverse stock split of 1:12 to boost its share price above $1, the minimum required to maintain a listing on the New York Stock Exchange.
Aurora's U.S.-listed shares were last trading below 80 cents.
Companies in the nascent marijuana industry had a rough 2019 and things are worsening this year, with many running out of cash at a time when the coronavirus pandemic has investors on the sidelines across all sectors.
Producers CannTrust Holdings Inc (TO:TRST) and James E Wagner Cultivation Corp (V:JWCAh) filed for bankruptcy protection two weeks earlier.
Edmonton, Alberta-based Aurora said on Monday it had about C$205 million ($146.8 million) cash as of March 31, including all the money it raised under the original at-the-market offering announced in May 2019.
Shares of other cannabis companies were also down on Monday with Tilray Inc (O:TLRY) down more than 8%, Hexo Corp (TO:HEXO) off 5% and Cronos Group Inc (TO:CRON) and Canopy Growth Corp (TO:WEED) down over 3%.
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.