Home Capital Group Inc T.HCG

SIB: $43.50, 45% of shares. Wooohooo!

[canader]

Shareholders had the opportunity under the Offer to tender Shares until 5:00 p.m. (Eastern time) on December 21, 2021. The Offer was made by way of a “modified Dutch auction” with Offer prices ranging from C$43.50 to C$48.50 per Share. Based on preliminary results, approximately 16.45 million Shares were tendered under the Offer (including Shares tendered by notice of guaranteed delivery). As the Offer was oversubscribed, shareholders who made auction tenders at C$43.50 per Share and purchase price tenders are expected to each have approximately 45% of their successfully tendered Shares purchased by Home Capital, other than “odd lot” tenders, which are not subject to proration.

[HermannHaller]

That's a win-win. The company gets the full SIB done, at the cheapest price, and those who tendered get a decent fill.  And they can buy it back cheaper today. I am holding for $50 plus.

[canader]

Hear, Hear. I will be buying some back for sure.  GLTA cept the Dhorties of course!

[organeer]

Congrats to all who are winning with hcg. Thanks to this board for helping me out. Annoucement says the following. Can someone who understands the terms tell me when we are expected to get our 45% in cash back? What is the two trading day settlement period and does it have anything to do with when we receive our cash? Thanks The number of Shares to be purchased under the Offer and the Purchase

[canader]

Two days settlement means brokerage houses have two days to get the shares to the clearing house for HCG to double check numbers. People with good old fashion share certificates got to priority mail them in(like overnight). Everything counted up again in two days. Final numbers. Then once the settlement date is done recalculate, dot the i's and t's. Then HCG open ups the BIG ole

[organeer]

Any idea why the stock price is down while the index is up? Not complaining because if we're going to need about a week before we get our 45% tendered in cash, the lower the SP the lower we csn buy back in

[canader]

Perhaos something to do with this Short Sales: HCG:(  760577, 12/15, Change, 277549, 57.5% ) HCG:(  483028, 11/30, Change, -55807, -10.4% ) HCG:(  538835, 11/15, Change, -134376, -20% )  

[organeer]

Maybe they think the real estate contagion from China will spread over to HCG. Let's hope the ncib gets approved first thing 2022 so HCG continues to gobble up shares cheap. Merry Christmas