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TIDEWATER MIDSTREAM ANNOUNCES EXERCISE OF OVER-ALLOTMENT OPTION AND CANCELLATION OF SECOND LIEN CREDIT FACILITY
TIDEWATER MIDSTREAM ANNOUNCES EXERCISE OF OVER-ALLOTMENT OPTION AND CANCELLATION OF SECON...
About this update from Tidewater Midstream & Infrastructure Ltd.
[{"type":"text","content":"\n \n \n \n TIDEWATER MIDSTREAM ANNOUNCES EXERCISE OF OVER-ALLOTMENT OPTION AND CANCELLATION OF SECOND LIEN CREDIT FACILITY\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN\n \n THE UNITED STATES\n \n OR TO U.S. NEWS AGENCIES/\n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Aug. 3, 2022\n \n \n /CNW/ - Tidewater Midstream and Infrastructure Ltd. (\"Tidewater\" or the \"Company\") (TSX: TWM) announces that its syndicate of underwriters (the \"Underwriters\") led by CIBC Capital Markets, National Bank Financial, RBC Capital Markets and ATB Capital Markets Inc. have fully exercised their over-allotment option (the \"Over-Allotment Option\") to acquire an additional 6,312,000 units (\"Units\") at a price of\n \n $1.20\n \n per Unit for additional gross proceeds of\n \n $7,574,400\n \n .\n \n \n \n \n \n \n \n \n \n The Over-Allotment Option was granted to the Underwriters in connection with Tidewater's previously announced bought deal financing, which included a public offering of 42,080,000 Units at a price of\n \n $1.20\n \n per Unit (the \"Offering\"). Under the terms of the Offering, the Underwriters were granted the Over-Allotment Option, which was exercisable in whole or in part for a period of 30 days following the closing date of the Offering, to purchase up to an additional 6,312,000 Units at a price of\n \n $1.20\n \n per Unit for market stabilization purposes and to cover over-allotments.\n \n \n The exercise of the Over-Allotment Option brings the total number of Units issued pursuant to the Offering to 48,392,000 and aggregate gross proceeds to the Company of\n \n $58,070,400\n \n .\n \n \n Additionally, subscribers of the previously announced private placement have the ability to participate in an over allotment option (\"Private Over-Allotment Option\") for up to 30 days following transaction closing. The Private Over-Allotment Option allows private placement subscribers to purchase up to an additional 4,312,500 units for potential gross proceed...