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Medical Facilities Corporation Announces Final Results of its Substantial Issuer Bid
Medical Facilities Corporation Announces Final Results of its Substantial Issuer Bid ...
About this update from Medical Facilities Corporation
[{"type":"text","content":"\n \n \n \n Medical Facilities Corporation Announces Final Results of its Substantial Issuer Bid\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 TORONTO\n \n \n ,\n \n \n Oct. 27, 2022\n \n \n /CNW/ - Medical Facilities Corporation (TSX: DR) (\"Medical Facilities\" or the \"Company\") announced today that it will take up and purchase for cancellation 3,053,097 of its common shares (the \"Common Shares\") at a purchase price of\n \n $11.30\n \n per Common Share under the Company's substantial issuer bid (the \"Offer\"), for aggregate consideration of approximately\n \n $34.5 million\n \n .\n \n \n Common Shares purchased under the Offer represent approximately 10.38% of the issued and outstanding Common Shares on a non-diluted basis as at\n \n September 12, 2022\n \n , when the terms of the Offer were announced. After giving effect to the Offer, 26,361,662 Common Shares will be issued and outstanding.\n \n \n A total of approximately 4,766,110 Common Shares were properly tendered to the Offer and not withdrawn. As the Offer was oversubscribed, shareholders who made auction tenders at prices from\n \n $10.00\n \n to\n \n $11.30\n \n per Common Share and purchase price tenders will have approximately 99% of their successfully tendered Common Shares purchased by the Company, other than \"odd lot\" tenders, which are not subject to proration.\n \n \n Payment for the purchased Common Shares will be effected by Computershare Investor Services Inc. (the \"Depositary\") in accordance with the Offer and applicable law. Any Common Shares tendered at a purchase price per Common Share above\n \n $11.30\n \n per Common Share will be returned to shareholders promptly by the Depositary.\n \n \n The full details of the Offer are described in the offer to purchase and issuer bid circular dated\n \n September 16, 2022\n \n , as well as the related letter of transmittal and notice of guaranteed delivery, copies of which were filed and are available on SEDAR at\n \n www.sedar.com\n \n .\n \n \n The Company's normal course issuer bid (the \...