Deals going on. CEO acquiring shares via term sheet...The acquisitions and Takeor Pay contracts.
Never bought debentures before...
CEO picking up 5.5 million shares in an interesting manner:
Chief Executive Officer’s Intent to Acquire Additional Tidewater Shares
Mr. MacLeod has entered into a term sheet with an arm’s length loan provider to facilitate, inter alia, the acquisition of additional Tidewater Common Shares. Mr. MacLeod feels that Tidewater Common Shares continue to be undervalued. The term sheet includes a pledge of approximately 5.5 million shares of Tidewater (the “Collateral”) as security in connection with a loan. The loan has a term of three years and upon repayment Mr. MacLeod is entitled to 100% of the appreciation or increase in the value of the Collateral.
https://www.globenewswire.com/news-release/2019/07/23/1886733/0/en/Tidewater-Announces-Pipestone-Strategic-Core-Area-Acquisition-and-Associated-10-year-Take-or-Pay-Contracts-75-Million-Bought-Deal-Offering-of-Convertible-Debentures-and-CEO-s-Inten.html