Aurora Cannabis Inc. entered into a definitive agreement on February 3, 2026, to exchange all its common shares of Bevo Agtech Inc. for preferred shares, and separately entered into an at-the-market offering agreement on February 4, 2026, to sell up to US$100 million of common shares. These transactions represent significant corporate actions involving a change in investment structure and potential equity financing.
Key takeaways
Aurora entered into the Bevo Agreement on February 3, 2026, to exchange all common shares of Bevo Agtech for preferred shares.
The Bevo Transaction closing is subject to Bevo Agtech shareholder approval and Bevo Farms' lender consent.
As preferred shareholder, Aurora will receive annual 5% dividend and 30% of eligible Bevo Agtech cashflow (increasing to 40% after 15 years).
Aurora will retain earnouts of up to $25 million for Aurora Sky and $15 million for Aurora Sun facilities upon Bevo Farms achieving financial milestones.
Aurora entered into an ATM Offering agreement on February 4, 2026, to sell up to US$100 million of common shares through TD Securities (USA) LLC.
Proceeds from ATM Offering intended for strategic purposes including increased cultivation capacity and M&A.