Westaim Corp V.WED

Remember the olden days?

[Tim2Agami]

Sherritt, Viridian, ifire, NuCryst.... JEVCO! 2012

Is it too much to hope for a return of capital or special dividend to WED shareholders?

05:35 PM EDT, 06/05/2023 (MT Newswires) -- The Westaim Corporation (TSXV: WED) announced after trade Monday that it is selling 3,850,000 shares of common stock of Skyward Specialty Insurance Group, Inc. (NASDAQ: SKWD), in an underwritten secondary public offering. In addition to Westaim, certain other stockholders of Skyward Specialty have also granted the underwriters a 30-day option to purchase up to an additional 577,500 shares. In the event the Option is fully exercised, Westaim would sell an additional 137,500 Shares.

According to a statement, Skyward Specialty will not receive any of the proceeds from the sale of the shares offered by the Selling stockholders. The Selling Stockholders will bear the underwriting discounts and commissions associated with the sale of such shares and receive all the net proceeds.

[enjoytheride]

I don't think a dividend is likely in the near term, At the last investor presentation the CEO said as much. He also said they were focused on narrowing the gap between the fair value and the share value of WED to be accomplished in part by repurchasing shares. The recent news release confirms that . So for now I think the focus is on capital appreciation.

[Tim2Agami]

Such a move would be equally appreciated. A capital idea for his Nibs. Public market buys via Ian Delaney and CFO MacNeil on 19 and 24 May, and volume on 2023 06 16 show that such growing interest cannot be stifled.