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Advantage Announces Terms of its Substantial Issuer Bid for up to $100,000,000
Advantage Announces Terms of its Substantial Issuer Bid for up to $100,000,000 ...
About this update from Advantage Energy Ltd
[{"type":"text","content":"\n \n \n \n Advantage Announces Terms of its Substantial Issuer Bid for up to $100,000,000\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 \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 Nov. 7, 2022\n \n \n /CNW/ - Advantage Energy Ltd. (\"Advantage\" or the \"Corporation\") announces the terms of its substantial issuer bid (the \"Offer\") pursuant to which the Corporation will offer to purchase for cancellation up to\n \n $100,000,000\n \n of its common shares (the \"Shares\").  The Offer will proceed by way of a modified Dutch auction and holders of Shares (\"Shareholders\") wishing to tender to the Offer may do so pursuant to: (i) auction tenders in which the tendering Shareholders specify the number of Shares being tendered at a specified price of not less than\n \n $11.20\n \n and not more than\n \n $12.90\n \n per Share in increments of\n \n $0.10\n \n per Share; or (ii) purchase price tenders in which the tendering Shareholders do not specify a price per Share, but rather agree to have a specified number of Shares purchased at the purchase price to be determined as provided in the Offer (the \"Purchase Price\"). Shareholders who validly tender Shares without specifying the method in which they are tendering their Shares, will be deemed to have made a purchase price tender.\n \n \n \n \n \n \n \n \n \n The Offer is expected to commence on\n \n November 10, 2022\n \n and remain open for acceptance until\n \n 5:00 p.m. (Eastern Standard Time)\n \n on\n \n December 16, 2022\n \n , or at such later time and date to which the Offer may be extended or varied by the Corporation (the \"Expiration Date\"), unless withdrawn. The Offer would be for approximately 4.9% of the total number of issued and outstanding Shares if the Purchase Price is determined to be\n \n $11.20\n \n (which is the minimum price per Share under the Offer) or approximately 4.3% of the total number of issued and outstanding Shares if the Purchase Price is determined to be\n \n $12.90\n \n (which is the maximum price per Share under the O...