Have to wait to see what the possible dilution,conversion date and expense effect will be.What they do with the proceeds may have a good or bad effect on the price of the stock, using it to make great acquisition or a bad one. The only details we know at this point in time is that Aurora "proposesto offer pursuant to a private placement US$250.0 million aggregate principal amount of convertible senior notes due 2024 (the "notes"). Aurora also intends to grant to the initial purchasers of the notes an option to purchase up to an additional US$37.5 million aggregate principal amount of notes".
If issued, there will be interest expense and cash flow effect (payment of interest) as stated "The notes will bear cash interest semi-annually at a fixed rate" when issued. Not determined yet how much but lets assume 4%, which would translate into $10 million or at 3% would be $7.5 million annually. Secondly, it is undetermined at this point in time, what the conversion date might be (before or at maturity date) and what the conversion ratio and conversion price will be. The due (maturity) date is 2024, however the final terms haven't been determined yet and will be determined by Aurora and the initial purchasers as to conversion date along with the conversion price.[/b Until the final terms are determined,the actual amount of dilution and interest expense effect is unknown.
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