Markets

Second Wave Petroleum Signs Going Private Agreement

Second Wave Petroleum Inc. (SCS.TO) has entered into a definitive agreement with Brookfield Bridge Lending Fund Inc., the company's controlling shareholder, to effect the previously-announced going private transaction at a cash price of $0.30 per share.

The arrangement agreement provides for the purchase by Brookfield, through a wholly-owned subsidiary, of all of the outstanding common shares of the company held by shareholders other than Brookfield and its affiliates for cash consideration of $0.30 per share.

SCS was up about 2% to $0.295, with 52-week range of $0.10 - $1.33.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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