Curaleaf seeks regulatory intervention to halt Aurora’s share program

The legal challenge argues that Aurora’s ongoing share sales are inconsistent with the company’s stated financial health, given that Aurora claims to be debt-free with roughly C$149 million in cash. According to the application, Aurora has issued approximately 2.81 million shares since Curaleaf first expressed interest in a transaction, a move that has increased the total cost of the acquisition by more than US$11 million. Curaleaf contends that these issuances serve only to protect current management at the expense of investor value.

Boris Jordan, Chairman and CEO of Curaleaf, described the practice as an abusive obstacle that prevents shareholders from making an informed decision regarding the premium offer. Beyond the financial impact, the filing claims the program makes it significantly harder to reach necessary acceptance thresholds for the deal. Curaleaf has requested an expedited hearing to address these concerns and protect the integrity of the capital markets while the offer remains outstanding.