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SECURE ANNOUNCES PRELIMINARY RESULTS OF ITS SUBSTANTIAL ISSUER BID
SECURE ANNOUNCES PRELIMINARY RESULTS OF ITS SUBSTANTIAL ISSUER BID Canada NewsWire ...
About this update from Secure Waste Infrastructure Corp.
[{"type":"text","content":"\n\n\n\n SECURE ANNOUNCES PRELIMINARY 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\n\n\n\n\n\n\n $136 million\n \n expected to be returned to Shareholders through the Offer\n \n\n Undersubscribed bid highlights Shareholder confidence in SECURE's long-term value\n \n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n May 15, 2025\n \n\n /CNW/ - SECURE Waste Infrastructure Corp. (\"SECURE\") (TSX: SES) announced today the preliminary results of its substantial issuer bid (the \"Offer\"), pursuant to which SECURE offered to purchase for cancellation up to\n \n $200 million\n \n of its outstanding common shares (the \"Shares\") from holders of Shares (the \"Shareholders\") for cash. The Offer proceeded by way of a modified Dutch auction which had a tender price range from\n \n $12.00\n \n per Share to\n \n $14.50\n \n per Share and included the ability for Shareholders to participate via a proportionate tender. The Offer expired at\n \n 5:00 p.m. (Eastern time)\n \n on\n \n May 14, 2025\n \n .\n \n\n 9,413,963 Shares have been deposited to the Offer and not withdrawn. In accordance with the terms and conditions of the Offer, based on the preliminary count by Odyssey Trust Company, as depositary for the Offer (the \"Depositary\") and after accounting for proportionate tenders, SECURE expects to take up and pay for 9,382,391 Shares at a purchase price of\n \n $14\n \n .50 per Share (the \"Purchase Price\"), without proration.\n \n\n The Shares to be purchased under the Offer are expected to represent an aggregate purchase price of approximately\n \n $136,044,670\n \n and 4% of SECURE's issued and outstanding Shares before giving effect to the Offer. Immediately following completion of the Offer, SECURE expects to have 221,492,147 Shares issued and outstanding.\n \n\n SECURE believes its strong balance sheet and robust projected cash flows provide it with the flexibility to execute on its capital allocation priorities, including enhanced shareholder returns via additional Share buybacks under its...