EXFO Inc (EXFO) – Odd Lot Tender Offer – 7.5% potential

Current Price – C$4.28

Offer Price – C$4.2 - C$4.6

Upside – 7.5% or $32 ( for odd lot holders, if the upper pricing limit is used)

Expiration date –  13 February 2015

SEC Filling

Summary:

We are conducting the Offer through a procedure commonly called a “modified Dutch Auction”. This procedure allows you to select the price within a price range specified by us at which you are willing to sell your Shares. The price range for the Offer is Cdn$4.20 to Cdn$4.60 per Share. We will select the lowest Purchase Price that will allow us to purchase the maximum number of Shares properly tendered and not withdrawn pursuant to the Offer having an aggregate Purchase Price not exceeding Cdn$30,000,000. 

As of January 7, 2015, there were 28,582,933 Shares issued and outstanding and, accordingly, the Offer is for approximately 24.99% of the total number of issued and outstanding Shares if the Purchase Price is determined to be Cdn$4.20 (being the minimum Purchase Price under the Offer) and for approximately 22.82% of the total number of issued and outstanding Shares if the Purchase Price is determined to be Cdn$4.60 (being the maximum Purchase Price under the Offer).

 

No proration for Odd Lot holders:

Odd Lots will be accepted for purchase before any pro-ration.

 

Source of Funds:

The Corporation will fund any purchases of Shares pursuant to the Offer from available cash on hand. The Offer is not conditional upon the receipt of financing.