Mogo Launches Normal Course Issuer Bid on TSX
21 8월 2023 - 9:03PM
Business Wire
Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) (“Mogo” or the “Company”)
today announced that, in addition to the Company’s existing common
share buyback program launched on the NASDAQ in March 2022 (the
“NASDAQ Bid”), the Company has received approval from the Toronto
Stock Exchange (the “TSX”) to commence repurchasing its common
shares on the TSX pursuant to a normal course issuer bid (the
“NCIB”, together with the NASDAQ Bid, the “Bids”).
Under the Bids, Mogo may purchase up to 2,183,000 common shares,
representing approximately 10% of the public float of Mogo’s
outstanding common shares at a March 21, 2023, which was 21,839,774
common shares on such date. Purchases under the Bids will be made
through the facilities of the TSX, NASDAQ, other designated
exchanges or any Canadian or US alternative trading system, if
eligible. In accordance with the policies of the TSX, the period of
the NCIB will be considered to have commenced on March 22, 2023 and
will run until March 21, 2024 or such earlier date should the
Company complete its permitted purchases under the Bids. As of
today’s date, Mogo has already purchased 176,456 common shares at
an average price of US$2.07 under the NASDAQ Bid since March 22,
2023 and it is therefore still eligible to repurchase up to
2,006,544 common shares under the Bids until March 21, 2024. The
Company currently has approximately 24.9 million shares outstanding
and may begin making purchases under the NCIB as of August 23,
2023.
All common shares purchased under the Bids will be cancelled.
The actual number of common shares purchased under either Bid, the
time of purchases and the price at which the common shares will be
acquired will depend on future market conditions.
Under the rules of the TSX and subject to certain exemptions for
block purchases, the maximum number of common shares that Mogo may
purchase on any one (1) trading day on the TSX is 10,489 common
shares, representing 25% of the average daily trading volume of
41,959 common shares for the six-month period ending February 28,
2023. This is in addition to the common shares that Mogo may
currently purchase per day under the NASDAQ Bid, the maximum of
which is approximately 25,000.
The Company’s board of directors has elected to commence the
NCIB, in addition to the NASDAQ Bid, as it believes that the market
price of the Company’s common shares may not, from time to time,
accurately reflect their underlying value. Accordingly, purchasing
the common shares for cancellation under the Bids may represent an
attractive investment opportunity to enhance long-term shareholder
value.
All common share amounts referred to in this press release have
been adjusted to reflect the Company’s recently completed 3:1 share
consolidation.
About Mogo
Mogo, one of Canada’s leading digital finance companies, is
empowering its members with simple digital solutions to help them
build wealth and achieve financial freedom. Mogo’s trade app,
MogoTrade, offers commission-free stock trading that helps users
make a positive impact with every investment and together with
Moka, Mogo’s wholly-owned subsidiary bringing automated,
fully-managed flat-fee investing to Canadians, forms the heart of
Mogo’s digital wealth platform. Mogo also offers digital loans and
mortgages. Through Mogo’s wholly-owned subsidiary, Carta Worldwide,
the company offers a digital payments platform that powers the
next-generation card programs from innovative fintech companies in
Europe and Canada. To learn more, please visit mogo.ca or download
the mobile app (iOS or Android).
Forward-Looking Statements
This news release may contain “forward-looking statements”
within the meaning of applicable securities legislation, including
statements regarding the Bids and the intended purchase for
cancellation of common shares of the Company thereunder.
Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by
management at the time of preparation, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies, and may prove to be incorrect. Forward-looking
statements are typically identified by words such as "may", "will",
"could", "would", "anticipate", "believe", "expect", "intend",
"potential", "estimate", "budget", "scheduled", "plans", "planned",
"forecasts", "goals" and similar expressions. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause actual financial results, performance or
achievements to be materially different from the estimated future
results, performance or achievements expressed or implied by those
forward-looking statements and the forward-looking statements are
not guarantees of future performance. Mogo’s growth, its ability to
expand into new products and markets and its expectations for its
future financial performance are subject to a number of conditions,
many of which are outside of Mogo’s control. For a description of
the risks associated with Mogo’s business please refer to the “Risk
Factors” section of Mogo’s current annual information form, which
is available at www.sedarplus.com and www.sec.gov. Except as
required by law, Mogo disclaims any obligation to update or revise
any forward-looking statements, whether as a result of new
information, events or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230821697485/en/
Craig Armitage Investor Relations craiga@mogo.ca (416)
347-8954
US Investor Relations Contact Lytham Partners, LLC Ben Shamsian
New York | Phoenix shamsian@lythampartners.com (646) 829-9701
Mogo (NASDAQ:MOGO)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
Mogo (NASDAQ:MOGO)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024