Strathcona Resources Announces Increased Public Float After Waterous Energy Fund Share Disposition

What's Happening: Strathcona Resources Ltd. announced that Waterous Energy Fund (WEF) has completed a share pass-through transaction, resulting in the disposition of 24,010,576 common shares, representing approximately 11.2% of Strathcona's issued and outstanding shares. This move increases Strathcona's public float to over 20%.

The Key Moves:

• WEF's ownership of Strathcona decreased from 90.8% to 79.6%.

• The transaction involved a series of reorganizational steps without changing the total number of Strathcona's issued and outstanding shares.

• The transaction did not require shareholder approval.

By The Numbers :

• 24,010,576 common shares of Strathcona were distributed by WEF.

• WEF's ownership decreased by approximately 11.2 percentage points.

• Strathcona's public float increased to over 20%.

Key Quotes:

• *KQ1*

• *KQ2*

• *KQ3*

The Bottom Line: The share disposition by Waterous Energy Fund significantly increases Strathcona Resources' public float, potentially improving liquidity for the company's stock. This move could attract more investors and enhance trading volume, while maintaining WEF as the majority shareholder with a 79.6% stake.

Read Full Article