13:39:00 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Aurora Cannabis Inc
Symbol ACB
Shares Issued 1,020,049,356
Close 2019-08-30 C$ 7.34
Market Cap C$ 7,487,162,273
Recent Sedar Documents

Globe says TC Energy, Aurora tap into ATMs for projects

2019-09-03 09:29 ET - In the News

See In the News (C-TRP) TC Energy Corp

The Globe and Mail reports in its Monday edition that an increasing number of Canada's largest companies are starting to hit their own version of an ATM to find the money for their biggest projects. The Globe's Andrew Willis writes that in Bay Street circles, an ATM is an at-the-market equity program. It is an approach to raising money that sees companies sell their stock into the market on an almost daily basis, rather than financing growth by periodically doing large equity offerings. To date, at least eight domestic companies in capital-hungry sectors such as utilities, cannabis and mining have announced ATM programs, picking up on a financing trend that is now commonplace in the United States. The corporate-finance crowd is now engaged in an active debate on the merits of selling stock through an ATM. Pipeline operator TC Energy is a leading proponent. The Calgary-based utility pulled more than $1-billion from its ATM, and increased the size of the program to $2-billion. Aurora Cannabis can tap an ATM for up to $514-million. ATMs are a low-cost, flexible way to raise money. The investment banks that run the programs charge a 1- to 2-per-cent fee, half the 4-per-cent commission charged on a traditional equity sale.

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