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Advantage Announces Final Results of Substantial Issuer Bid
Advantage Announces Final Results of Substantial Issuer Bid Canada NewsWire (...
About this update from Advantage Energy Ltd
[{"type":"text","content":"\n \n \n \n Advantage Announces Final Results of Substantial Issuer Bid\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 Dec. 20, 2022\n \n \n /CNW/ - Advantage Energy Ltd. (\"Advantage\" or the \"Corporation\") announces the final results of its substantial issuer bid (the \"Offer\"), pursuant to which the Corporation offered to purchase for cancellation up to\n \n $100,000,000\n \n of its common shares (the \"Shares\").  In accordance with the terms and conditions of the Offer, Advantage has taken up 8,928,571 Shares at a price of\n \n $11.20\n \n per Share (the \"Purchase Price\"), representing an aggregate purchase of approximately\n \n $100,000\n \n ,000 and 4.9% of the total number of Advantage's issued and outstanding Shares as at the time the Offer was commenced on\n \n November 10\n \n , 2022.  Immediately following completion of the Offer, Advantage anticipates that 172,186,405 Shares will be issued and outstanding.\n \n \n Based on the final calculation by Computershare Investor Services Inc., as depositary for the Offer (the \"Depositary\"), a total of 32,092,015 Shares were properly tendered to the Offer and not properly withdrawn.  As the Offer was oversubscribed, the purchase of Shares under the Offer is subject to proration.  Holders of shares (\"Shareholders\") who validly tendered Shares pursuant to auction tenders at prices at or below the Purchase Price, and/or who made, or were deemed to have made, purchase price tenders and who did not withdraw their tendered Shares prior to the expiry date of the Offer, will have approximately 42.85% of such tendered Shares purchased by the Corporation, other than in the case of \"Odd Lot\" holders (Shareholders who owned and tendered less than 100 Shares), who will not be subject to proration.\n \n \n Payment for the Shares accepted for purchase will be made in accordance with the terms of the Offer and applicable law.  All Shares not purchased un...