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Aimia Inc. ( (TSE:AIM) ) just unveiled an update.
Aimia Inc. announced a reminder regarding the expiration of its substantial issuer bid aimed at purchasing and canceling its Preferred Shares in exchange for 9.75% senior unsecured notes due in 2030. The initiative is part of Aimia’s strategic review process to unlock company value and provide shareholders an option to realize investments with improved liquidity and yield compared to existing dividends. The company anticipates reduced liquidity for its Preferred Shares as a result of this move, which is considered a recapitalization effort in the best interest of the company and its security holders.
More about Aimia Inc.
Aimia Inc. (TSX: AIM) is a diversified company focused on unlocking the growth potential of its two global businesses, Bozzetto, a sustainable specialty chemicals company, and Cortland International, a rope and netting solutions company. Headquartered in Toronto, Aimia’s priorities include strategic initiatives to enhance shareholder value.
YTD Price Performance: -6.67%
Average Trading Volume: 37,238
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: C$237.6M
See more data about AIM stock on TipRanks’ Stock Analysis page.
