CI Financial Announces Commencement of Substantial Issuer Bid
CI Financial Corp. (TSX: CIX) (“CI Financial” or the “Corporation”) announced today it has commenced its previously announced substantial issuer bid (the “Offer”), pursuant to which the Corporation will offer to purchase up to 4,857,142 (the “Maximum Number of Shares”) of its outstanding common shares (the “Shares”) from holders of Shares (the “Shareholders”) for cash, at a purchase price of $17.50 per Share (the “Purchase Price”).
- CI Financial Corp. (TSX: CIX) (“CI Financial” or the “Corporation”) announced today it has commenced its previously announced substantial issuer bid (the “Offer”), pursuant to which the Corporation will offer to purchase up to 4,857,142 (the “Maximum Number of Shares”) of its outstanding common shares (the “Shares”) from holders of Shares (the “Shareholders”) for cash, at a purchase price of $17.50 per Share (the “Purchase Price”).
- The Offer would be for approximately 3.11% of the total number of issued and outstanding Shares.
- Shares that are not taken up in connection with the Offer will be returned to Shareholders that tendered to the Offer.
- The Corporation has further engaged NBF to act as its dealer manager and financial advisor in connection with the Offer.