RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Receipt deal closes Nov. 18Mickey I don't think receipts will ever trade.
And why I think my interpretation is correct that people will have acces to their shares is this paragraph released yesterday..it used the word "on" december 31, 2021 and not "before" december 31 2021. Key word to me is "on"....
I think subscription receipt holders are stuck until then so too speak but most are going to be long term holders anyways.
The gross proceeds from the sale of Subscription Receipts pursuant to the Offering will be held in escrow pending the completion of the Acquisition. If all conditions to the completion of the Acquisition are satisfied or waived (other than funding the portion of the purchase price therefor to be financed with the net proceeds of the Offering) and Obsidian Energy has confirmed the same to the Agents before 5:00 p.m. (Calgary time) on December 31, 2021, the net proceeds from the sale of the Subscription Receipts will be released from escrow to Obsidian Energy, and each Subscription Receipt will automatically be exchanged for one Common Share for no additional consideration and without any action on the part of the holder. Mickey2 wrote: pennydredful wrote:
Both receipts and of course shares will be trading Nov. 18th. . The receipts will continue to trade till the deal closes . Once the deal closes the receipts will automatically convert to shares . In the unlikely case the deal does not close ( say a 1% chance, all funds 4.40 are returned to receipt buyers) . The receipts and shares will trade in close proximity to each other but a gap could open if shares go sharply up or sharply down. Ten to 14 days after the deal closes often the analysts of the under writers will issue a new BUY report
what will be the symbol on TSX? are you sure the receipts will trade on nov 18th? ok thank you.