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Chorus Aviation Announces Intention to Commence Substantial Issuer Bid for an Aggregate Purchase Price Not Exceeding $25 Million of Its Shares
Chorus Aviation Announces Intention to Commence Substantial Issuer Bid for an Aggregate Purchase ...
About this update from Chorus Aviation Inc.
[{"type":"text","content":"\n\n\n\n Chorus Aviation Announces Intention to Commence Substantial Issuer Bid for an Aggregate Purchase Price Not Exceeding $25 Million of Its Shares\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\n HALIFAX, NS\n \n\n ,\n \n\n April 7, 2025\n \n\n /CNW/ - Chorus Aviation Inc. (TSX: CHR) (\"\n \n Chorus\n \n \" or the \"\n \n Company\n \n \") today announced its intention to commence a substantial issuer bid (the \"\n \n Offer\n \n \") pursuant to which the Company will offer to purchase up to $25 million in value of its Class A Variable Voting Shares and Class B Voting Shares (collectively, the \"\n \n Shares\n \n \") from holders of Shares (the \"\n \n Shareholders\n \n \") at a cash purchase price of not less than\n \n $17.50\n \n and not more than\n \n $21.00\n \n per Share (CUSIP No. 17040T888).\n \n\n The Company expects to commence the Offer on or about\n \n April 14, 2025\n \n . Assuming such commencement date, the Offer is expected to expire at\n \n 5:00 p.m.\n \n (\n \n Toronto\n \n time) on May 20, 2025, or such later time and date to which the Offer may be extended by Chorus (such time on such date, the \"\n \n Expiration Date\n \n \").\n \n\n The Offer will proceed by way of a \"modified Dutch auction\" that allows Shareholders wishing to tender to the Offer to individually select the price, within the specified range (and specified increments), at which they are willing to sell their Shares. Shareholders wishing to tender to the Offer may do so pursuant to: (a) auction tenders in which the tendering Shareholders specify the number of Shares being tendered at a price of not less than\n \n $17.50\n \n and not more than\n \n $21.00\n \n per Share in increments of\n \n $0.05\n \n per Share (the \"\n \n Auction Tenders\n \n \"); or (b) 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 by the Auction Tenders (the \"\n \n Purchase Price Tenders\n \n \").\n \n\n Promptly...