Aurora Cannabis hires hedge-fund manager Nelson Peltz as adviser

Canada’s Aurora Cannabis Inc. shares ACB, +0.13% ACB, +0.19% soared 11% in premarket trade Wednesday after the company said it has hired hedge fund manager Nelson Peltz as an adviser to help it explore possible partnerships and help with its global expansion strategy. Peltz, the founder of Trian Fund Management L.P., will be granted options to purchase 19.9 million common shares in the company at C$10.34 ($7.74) a share. The options will vest over a four-year period on a quarterly basis, and the vesting may accelerate if the company meet certain goals, including the consummation of certain defined transactions and the share price being at least at C$31.02 and C$41.36 for a specified number of trading days. Shares have gained 60% in 2019 to date, while the S&P 500 SPX, +0.30% has gained 11%.

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