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Here's Why Aurora Cannabis Dropped Over 7% Today

Here's Why Aurora Cannabis Dropped Over 7% Today

Shares of Canadian cannabis grower Aurora Cannabis (NYSE: ACB) dropped today after the company announced a new share offering. Aurora announced that it will be issuing 12 million new shares, plus additional warrants to purchase shares. Aurora will use the $125 million in proceeds "for general corporate purposes, which may include opportunistically reducing debt."