Aurora Cannabis selling stock to pay down debt

Alberta-based Aurora Cannabis Inc.
ACB,
-5.13%

ACB,
-4.21%
said Thursday it agreed to sell up to 53.19 million common shares to Canaccord Genuity at a price of C$0.73 per offered security for proceeds of up to about C$38.83 million ($28.78 million). Most of the proceeds from the deal will be used to pay outstanding convertible senior notes at or prior to maturity, representing principal outstanding of approximately about $25 million. Aurora Cannabis stock was down 6% in premarket trades Thursday after falling 5% in the previous session.