TOURMALINE AND TOPAZ ANNOUNCE UPSIZE TO PREVIOUSLY ANNOUNCED BOUGHT DEAL SECONDARY OFFERING TO $300 MILLION

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TOURMALINE AND TOPAZ ANNOUNCE UPSIZE TO PREVIOUSLY ANNOUNCED BOUGHT DEAL SECONDARY OFFERING TO $300 MILLION

//stocks-investing.news-articles.net/content/202 .. ught-deal-secondary-offering-to-300-million.html

Published in Stocks and Investing on Tuesday, November 26th 2024 at 12:01 GMT by

Thomas Matters

CALGARY, AB, Nov. 26, 2024 /CNW/ - Tourmaline Oil Corp. (TSX: TOU) (" Tourmaline" or the " Selling Shareholder") and Topaz Energy Corp. (TSX: TPZ) (" Topaz" or the " Company") are pleased to announce that they have agreed with the syndicate of underwriters ...

The article from The Globe and Mail discusses an announcement by Tourmaline Oil Corp. and Topaz Energy Corp. regarding an upsized bought deal secondary offering. Originally, Topaz planned to sell 10,000,000 common shares at $22.00 each, but due to strong demand, the offering was increased to 13,636,400 shares at the same price, totaling approximately $300 million. This offering is being managed by a syndicate of underwriters led by BMO Capital Markets and CIBC Capital Markets. The shares are being sold by Tourmaline, with no proceeds going to Topaz. The offering is expected to close on or about June 21, 2023, subject to customary conditions, including approval from the Toronto Stock Exchange. The purpose of the sale is to allow Tourmaline to monetize a portion of its equity interest in Topaz.

Read the Full The Globe and Mail Article at [ https://www.theglobeandmail.com/investing/markets/stocks/TPZ-T/pressreleases/29773544/tourmaline-and-topaz-announce-upsize-to-previously-announced-bought-deal-secondary-offering-to-300-million/ ]