Tourmaline and Topaz announce $287.5M bought deal offering
Tourmaline and Topaz announced a $287.5 million bought deal secondary offering of Topaz common shares. Tourmaline also announced planned share repurchases and a base dividend increase.
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08:32:05 PM UTC
SquawkNews
TOURMALINE AND TOPAZ ANNOUNCE $287.5 MILLION BOUGHT DEAL SECONDARY OFFERING OF TOPAZ COMMON SHARES AND TOURMALINE ANNOUNCES PLANNED SHARE REPURCHASES AND BASE DIVIDEND INCREASE
08:32:38 PM UTC
SquawkNews
Tourmaline will sell 10M Topaz shares for ~$287.5M and use proceeds to repurchase its own shares under its NCIB. The board approved a 5% increase in the quarterly base dividend to $0.525/share effective Q4 2026.Material DetailsContext by AI AnalystThis is a late-cycle capital return move, reallocat…