Greenfire Closes C$775M Rights Offering, Fully Repays Bridge Loan
GFR sits 56% above its 52-week low of $4.15 on elevated volume (3.8× avg).
Summary
Greenfire completed its C$775 million rights offering, issuing 114.99 million shares at C$6.74 each. The offering was fully subscribed, with no standby commitment needed. Proceeds repaid the C$575 million bridge facility and reduced other acquisition debt, leaving leverage at 1.2x Debt/2027E Adjusted EBITDA. WEF maintained its 72.0% ownership stake. This follows the August 7 final prospectus and the August 5 closing of the Connacher acquisition.
At the time of this announcement, GFR was trading at $6.49 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $1.6B. The 52-week trading range was $4.15 to $7.16. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: TMX Newsfile.