Aurora Cannabis Inc. (NASDAQ: ACB) responded to an application by Curaleaf Holdings Inc. to halt Aurora's at-the-market (ATM) equity program, according to a statement issued Sept. 14, 2026.

Aurora's board unanimously recommended that shareholders reject Curaleaf's hostile bid, advising them to take no action and not tender their shares. The board also recommended that shareholders who have already tendered withdraw their shares.

Aurora stated that its ATM program was publicly announced in February 2026, more than six months before Curaleaf launched its hostile bid. The company said the program had been inactive for several weeks and had not been used in the three years prior to February 2026. Aurora said proceeds from the ATM were used to support acquisitions in Canada and the United Kingdom.

"Our ATM program was established long before Curaleaf launched its inadequate hostile bid and was never designed as a response to it," said Miguel Martin, Executive Chairman and Chief Executive Officer of Aurora.

Aurora also noted that on Sept. 2, its board filed a directors' circular and raised a complaint with the Alberta Securities Commission regarding what it described as regulatory deficiencies in Curaleaf's bid.

Aurora pointed to Curaleaf's balance sheet, citing more than $1 billion in debt as of June 30, 2026, including $500 million in senior secured notes carrying an 11.5% interest rate, as disclosed in Curaleaf's financial statements filed Aug. 5, 2026. Aurora described itself as debt-free with a strong cash position.