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Coveo Announces Preliminary Results of Substantial Issuer Bid and Receipt of AMF Exemptive Relief
Coveo Announces Preliminary Results of Substantial Issuer Bid and Receipt of AMF Exemptive Relief...
About this update from Coveo Solutions, Inc.
[{"type":"text","content":"\n \n \n \n Coveo Announces Preliminary Results of Substantial Issuer Bid and Receipt of AMF Exemptive Relief\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 11, 2024\n \n \n /CNW/ -\n \n Coveo Solutions Inc.\n \n (\"\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 the preliminary results of its substantial issuer bid (the \"\n \n SIB\n \n \"), pursuant to which Coveo offered to purchase for cancellation a number of its subordinate voting shares (\"\n \n Subordinate Voting\n \n \n Shares\n \n \") for an aggregate purchase price not to exceed\n \n C$50 million\n \n at a purchase price of not less than\n \n C$7.70\n \n and not more than\n \n C$9.25\n \n per Subordinate Voting Share. The SIB expired at\n \n 5:00 p.m.\n \n (\n \n Montreal\n \n time) on\n \n Wednesday, July 10, 2024\n \n (the \"\n \n Expiration Time\n \n \").\n \n \n \n Preliminary Results of SIB\n \n \n \n In accordance with the terms and conditions of the SIB and based on the preliminary calculation of TSX Trust Company (the \"\n \n Depositary\n \n \") as depositary for the SIB, Coveo expects to take up and pay for 6,493,506 Subordinate Voting Shares (including 45,343 multiple voting shares (\"\n \n Multiple Voting Shares\n \n \") on an as-converted basis) at a price of\n \n C$7.70\n \n per Subordinate Voting Share under the SIB, representing 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 Subordinate Voting Shares and Multiple Voting Shares before giving effect to the SIB and on a non-diluted basis. Approximately 27,900 Subordinate Voting Shares were tendered through notices of guaranteed delivery.\n \n \n Based on the Depositary's preliminary count, approximately 30,125,099 shares were validl...