Aurora Cannabis falls on capital raise, reverse stock split

  • Aurora Cannabis Inc’s 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.
  • Producers CannTrust Holdings Inc and James E Wagner Cultivation Corp filed for bankruptcy protection two weeks earlier.

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