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THINKIFIC ANNOUNCES RESULTS AND CLOSING OF ITS SUBSTANTIAL ISSUER BID
THINKIFIC ANNOUNCES RESULTS AND CLOSING OF ITS SUBSTANTIAL ISSUER BID Canada NewsWire ...
About this update from Thinkific Labs, Inc.
[{"type":"text","content":"\n \n \n \n THINKIFIC ANNOUNCES RESULTS AND CLOSING 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 VANCOUVER, BC\n \n \n ,\n \n \n June 24, 2024\n \n \n /CNW/ - Thinkific Labs Inc. (\"\n \n Thinkific\n \n \" or the \"\n \n Company\n \n \") (TSX: THNC) announced today the results and closing of its substantial issuer bid (the \"\n \n Offer\n \n \") to repurchase for cancellation up to\n \n C$47,831,000\n \n of its outstanding subordinate voting shares (the \"\n \n Subordinate Voting\n \n \n Shares\n \n \") at a price of\n \n C$3.72\n \n per Subordinate Voting Share (the \"\n \n Purchase Price\n \n \"). The Offer expired at\n \n 5:00 p.m. (Eastern Time)\n \n on\n \n June 21, 2024\n \n .\n \n \n \n \n \n \n \n \n \n \"With the completion of this Offer, shareholders in Thinkific will now own a more concentrated position in the enterprise value of the Company.\", said Thinkific CEO,\n \n Greg Smith\n \n . \"The valuation of Thinkific's shares is now more directly tied to the growth and performance of the Company, and the approximately\n \n US$50m\n \n cash we have retained is more than sufficient for the execution of our profitable growth strategy.\"\n \n \n All of the terms and conditions of the Offer have been complied with or waived and, based on the report prepared by Computershare Investor Services Inc. (the \"\n \n Depositary\n \n \"), a total of 3,100,634 Subordinate Voting Shares were properly tendered to the Offer. Pursuant to the terms of the Offer, holders of multiple voting shares of the Company (the \"\n \n Multiple Voting Shares\n \n \", together with Subordinate Voting Shares the \"\n \n Shares\n \n \") were entitled to tender Multiple Voting Shares (which would be automatically converted into Subordinate Voting Shares immediately prior to take up) in the Offer. 56,563,752 Multiple Voting Shares were tendered pursuant to the Offer. Accordingly, on\n \n June 21, 2024\n \n , the Company has taken up and purchased for cancellation 12,857,795 Subordinate Voting Shares (inc...