Business
Chorus Aviation Announces Substantial Issuer Bid for an Aggregate Purchase Price Not Exceeding $50 Million of Its Shares
Chorus Aviation Announces Substantial Issuer Bid for an Aggregate Purchase Price Not Exceeding $5...
About this update from Chorus Aviation Inc.
[{"type":"text","content":"\n\n\n\n Chorus Aviation Announces Substantial Issuer Bid for an Aggregate Purchase Price Not Exceeding $50 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 Sept. 22, 2025\n \n\n /CNW/ - Chorus Aviation Inc. (TSX: CHR) (\"\n \n Chorus\n \n \" or the \"\n \n Company\n \n \") today announced a substantial issuer bid (the \"\n \n Offer\n \n \") pursuant to which the Company will offer to purchase up to\n \n $50 million\n \n 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 $23.00\n \n and not more than\n \n $25.00\n \n per Share.\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 (the \"\n \n Auction Price\n \n \") of not less than\n \n $23.00\n \n and not more than\n \n $25.00\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 (as defined below) to be determined by the Auction Tenders (the \"\n \n Purchase Price Tenders\n \n \").\n \n\n Promptly following the Expiration Date (as defined below), the Company will determine a single price per Share (the \"\n \n Purchase Price\n \n \") (which will be not less than\n \n $23.00\n \n and not more than\n \n $25.00\n \n per Share) that it will pay for Shares validly deposited pursuant to the Offer and not withdrawn, taking into account the number of Shares deposited purs...