CI Financial Announces Substantial Issuer Bid Price Increase and Related Extension

TORONTO -- CI Financial Corp. (TSX: CIX) (“CI Financial” or the “Corporation”) announced today the Corporation is varying the terms of its previously announced substantial issuer bid (the “Offer”). Under the terms of the Offer, the Corporation offered to purchase up to 5,000,000 of its outstanding common shares (the “Shares”) from its shareholders (“Shareholders”) at a price of $17.50 per Share for a total value of up to $87.5 million and the Offer was scheduled to expire at 5:00 p.m. (Toronto time) on October 1, 2024. The Offer is being varied to: (i) increase the price to $18.25 per Share, increasing the total value of the Offer to up to $91.25 million; and (ii) as required by applicable U.S. securities laws, extend the expiry date of the Offer to 5:00 p.m. (Toronto time) on October 3, 2024, or such later date and time to which the Offer may be extended by CI Financial (such time on such date, the “Expiration Date”). All other terms of the Offer remain unchanged. Read More