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EXFO completes $30 million issuer bid

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Overview

Client

EXFO Inc.

On February 20, 2015, EXFO Inc. announced the final results of its offer, made by way of a modified “Dutch auction”, to purchase for cancellation subordinate voting shares for the amount of CA$30 million.

EXFO confirmed that it had agreed to redeem, for cancellation purchases, at the price of $4.60 per share, 6,521,739 of the 6,563,646 subordinate voting shares that were validly tendered in connection with the offer, and this for a total amount of CA$30 million (excluding fees and expenses relating to the offer) in accordance with the terms and conditions of the offer. These 6,521,739 subordinate voting shares represent 22.7% of all of the Corporation’s subordinate voting shares that were issued and outstanding as at February 13, 2015. Once the subordinate voting shares are purchased, EXFO will have 22,515,790 subordinate voting shares outstanding.

Listed on the NASDAQ and TSX stock exchanges, EXFO is a leading provider of next-generation test, service assurance and end-to-end quality of experience solutions for mobile and fixed network operators and equipment manufacturers in the global telecommunications industry. EXFO has a staff of approximately 1600 people in 25 countries, supporting more than 2000 telecom customers worldwide.

Benoit Ringuette, General Counsel and Corporate Secretary of EXFO Inc., conducted this transaction. He was supported by a Fasken Martineau team that included Peter Villani, Jean Michel Lapierre, Marie-Christine Valois and Alain Ranger.

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