Business
Advantage Announces Closing of Bought Deal Financing
Advantage Announces Closing of Bought Deal Financing Canada NewsWire (TSX: AA...
About this update from Advantage Energy Ltd
[{"type":"text","content":"\n \n \n \n Advantage Announces Closing of Bought Deal Financing\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n (TSX: AAV)\n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n June 18, 2024\n \n \n /CNW/ - Advantage Energy Ltd. (\"Advantage\" or the \"Corporation\"), is pleased to announce that it has completed its previously announced bought deal financing (the \"Offering\") pursuant to a prospectus supplement dated\n \n June 12, 2024\n \n to Advantage's short form base shelf prospectus dated\n \n June 10, 2024\n \n (collectively, the \"Prospectus\"). Advantage, through a syndicate of underwriters (the \"Underwriters\") co-led by TD Securities Inc. and Scotiabank, issued a total of 5,910,000 subscription receipts (the \"Subscription Receipts\") at a price of\n \n $11.00\n \n per Subscription Receipt and\n \n $125,000,000\n \n aggregate principal amount of 5.0% extendible convertible unsecured subordinated debentures (the \"Debentures\") at a price of\n \n $1,000\n \n per Debenture for aggregate gross proceeds of the Offering of\n \n $190,010,000\n \n .\n \n \n In addition, Advantage has granted the Underwriters an over-allotment option, exercisable, in whole or in part, at any time and from time to time until the earlier of: (i)\n \n July 18, 2024\n \n ; and (ii) the Termination Time (as defined below) or the Debenture Termination Time (as defined below), as applicable, to purchase up to an additional 886,500 Subscription Receipts and up to an additional\n \n $18,750,000\n \n aggregate principal amount of Debentures, on the same terms and conditions as the Offering.\n \n \n Each Subscription Receipt entitles the holder thereof to receive, automatically upon closing of Advantage's previously announced acquisition of certain\n \n Charlie Lake\n \n and\n \n Montney\n \n assets (the \"Acquisition\") from a private seller (the \"Vendor\"), without any further action on the part of the holder or payment of any additional consideration, one common share of Advantage (each, a \"Common Share\").\n \n \...