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Advantage Announces Exercise in Full of Debenture Over-Allotment Option in Connection with Bought Deal Financing
Advantage Announces Exercise in Full of Debenture Over-Allotment Option in Connection with Bought...
About this update from Advantage Energy Ltd
[{"type":"text","content":"\n\n \n \n \n Advantage Announces Exercise in Full of Debenture Over-Allotment Option in Connection with 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 20, 2024\n \n \n /CNW/ - Advantage Energy Ltd. (\"Advantage\" or the \"Corporation\"), is pleased to announce that the underwriters of 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 , have exercised in full their over-allotment option (the \"Debenture Over-Allotment Option\") in respect of the 5.0% extendible convertible unsecured subordinated debentures (the \"Debentures\"), resulting in the issue of an additional\n \n $18,750,000\n \n aggregate principal amount of Debentures (the \"Over-Allotment Debentures\"). As a result of the exercise and closing of the Debenture Over-Allotment Option, Advantage has issued a total of\n \n $143,750,000\n \n aggregate principal amount of Debentures under the Offering.\n \n \n The net proceeds of the Offering, including the exercise and closing of the Debenture Over-Allotment Option, are expected to be used to fund a portion of the purchase price for the acquisition of certain\n \n Charlie Lake\n \n and\n \n Montney\n \n assets (the \"Acquisition\") from a private vendor, which is expected to close by the end of\n \n June 2024\n \n , subject to the satisfaction or waiver of customary closing conditions.\n \n \n The Debentures currently trade on the Toronto Stock Exchange under the symbol \"AAV.DB\".\n \n \n \n \n Forward-Looking Information Advisory\n \n \n \n \n \n The information in this press release contains certain forward-looking statements, including within the meaning of applicable securities laws. These statements relate to future events or our future intentions or performance. All statements other than statements of historical fact may be forward-loo...