Civeo Corp.
Description
Repurchase 40% of outstanding Class A Series 1 preferred shares for $30.58 per share. Company will fund the repurchase through its existing bank revolver. Shares are convertible into approximately 999,000 common shares (6% of the company’s fully diluted common shares outstanding) in April 2023. 10% of the company’s fully diluted common shares outstanding will have been repurchased since August 2021 after repurchase closes on Nov. 1, 2022.