January 17, 2019 / 3:10 PM / 2 years ago

BUZZ-Aurora Cannabis to price convertible offering after market close; order book closes at 2:00 ET

(Amends headline, adds joint bookrunners, notes’ price talk)

** U.S.-listed shares of Aurora Cannabis Inc down 7 pct at $6.80 in early trade as co gets set to price its convertible offering after market close Thurs; Stock on track to snap six-day winning streak

** Canadian cannabis producer offering privately $250 mln, 5-yr convertible senior notes

** Aurora expects to use net proceeds from offering to fund Canadian and international expansion, future acquisitions, among other uses

** Joint bookrunners BMO and Cowen marketing notes with 5-5.5 pct coupon, 10-15 pct convertible premium

** Bookrunners say order book to close at 2:00 pm ET

** Prospective offering was discussed confidentially with select group of investors (“targeted wall cross”) prior to launch

** U.S.-listed shares among biggest pct losers on NYSE; have already traded 70 pct of their 30-DMA volume

** Today’s decline cuts ACB.N gain YTD to 37 pct. Follows 33 pct plunge in 2018

** Cannabis-focused ETFMG Alternative Harvest ETF down fractionally in day’s session (Reporting by Shreyashi Sanyal and Lance Tupper)

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