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Coveo Announces Completion of Substantial Issuer Bid and Renewal of Normal Course Issuer Bid and Automatic Securities Purchase Plan
Coveo Announces Completion of Substantial Issuer Bid and Renewal of Normal Course Issuer Bid and ...
About this update from Coveo Solutions, Inc.
[{"type":"text","content":"\n \n \n \n Coveo Announces Completion of Substantial Issuer Bid and Renewal of Normal Course Issuer Bid and Automatic Securities Purchase Plan\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 MONTREAL\n \n and\n \n SAN FRANCISCO\n \n \n ,\n \n \n July 12, 2024\n \n \n /CNW/ - Coveo Solutions Inc. (\"\n \n Coveo\n \n \" or the \"\n \n Company\n \n \") (TSX: CVO), the leading enterprise AI platform that brings AI search and generative AI (GenAI) to every point–of-experience, enabling remarkable personalized digital experiences, announced today that it has taken up and paid for 6,493,506 of its subordinate voting shares (\"\n \n Shares\n \n \") (including 45,343 multiple voting shares (\"\n \n Multiple\n \n \n Voting Shares\n \n \") on an as-converted basis) at a price of\n \n C$7.70\n \n per Share under Coveo's substantial issuer bid (the \"\n \n SIB\n \n \") to purchase for cancellation a number of its Shares for an aggregate purchase price not to exceed\n \n C$50 million\n \n . Coveo further announced today that its board of directors has authorized the renewal of its normal course issuer bid (the \"\n \n NCIB\n \n \") to purchase for cancellation up to 2,690,573 Shares over the twelve–month period commencing on\n \n July 17, 2024\n \n and ending no later than\n \n July 16, 2025\n \n , as well as the implementation of an automatic securities purchase plan in connection with the NCIB.\n \n \n \n \n \n \n \n \n \n Completion of Substantial Issuer Bid\n \n \n The Shares purchased under the SIB represent an aggregate purchase price of approximately\n \n C$50 million\n \n and approximately 6.24% of the total number of Coveo's issued and outstanding Shares and Multiple Voting Shares (on a non-diluted basis) as of\n \n July 10, 2024\n \n . After giving effect to the SIB, Coveo will have approximately 53,811,461 Shares and 43,703,957 Multiple Voting Shares issued and outstanding.\n \n \n Based on the final count by TSX Trust Company, acting as depositary for the SIB (the \"\n \n Depositar...