Curaleaf challenge to Aurora Cannabis at-the-market program fails
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- The Alberta Securities Commission dismissed a challenge from Curaleaf Holdings (CURLF) over Aurora Cannabis' (ACB) at-the-market program.
- Aurora filed for the up to $100M worth of shares program in early February. The company previously announced the hostile bid by Curaleaf on Aug. 19.
- The last time the ATM program was tapped was Aug. 18, according to Aurora.
- "Aurora's ATM program was publicly disclosed well before the Hostile Bid and was established to support legitimate accretive and strategic opportunities," CEO Miguel Martin said in a statement. "We believe this unsuccessful application distracts from the fundamental shortcomings of Curaleaf's revised Hostile Bid."
- Aurora has told its shareholders to reject the updated offer.
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