AGFY - Cannabis On The NASDAQ? No Problem: A Look At Aurora's Positive Cash Flow Strategy Agrify's Equity Boost | Benzinga
Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), a major cannabis company, is sticking to its previous financial predictions. Management believes the company will make more money than it spends over the year, achieving positive annual adjusted EBITDA, and also expects to have more cash coming in than going out in 2024, generating positive free cash flow.
Aurora has also announced a share consolidation strategy. This plan involves consolidating Common Shares at a ratio of 1 for every 10 currently outstanding, effective around February 20, 2024.
This move aims to meet Nasdaq's Minimum Bid Price Requirement, ensuring continued access to a broad base of institutional investors.
CEO Miguel Martin noted: "We will continue to exercise financial ...