{"id":51844,"date":"2026-04-29T21:48:40","date_gmt":"2026-04-30T01:48:40","guid":{"rendered":"https:\/\/prefblog.com\/?p=51844"},"modified":"2026-04-29T21:50:27","modified_gmt":"2026-04-30T01:50:27","slug":"ecn-pr-c-delisted-at-26-130471","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=51844","title":{"rendered":"ECN.PR.C Delisted At 26.130471"},"content":{"rendered":"

ECN.PR.C was delisted today in accordance with the company’s press release dated 2026-04-24<\/a> (emphasis added – JH):<\/p>\n

ECN Capital Corp. (TSX: ECN) (\u201cECN Capital\u201d or the \u201cCompany\u201d) announced today the successful completion of the Company\u2019s previously announced plan of arrangement (the \u201cArrangement\u201d) whereby a newly formed acquisition vehicle controlled by an investor group led by investment funds managed by Warburg Pincus LLC and including Goodview Capital Corp. (the \u201cPurchaser\u201d) acquired (i) all of the issued and outstanding common shares of the Company (the \u201cCommon Shares\u201d) for C$3.10 in cash per Common Share; (ii) all of the issued and outstanding cumulative 5-year minimum rate reset preferred shares, Series C of the Company (the \u201cSeries C Preferred Shares\u201d) for C$26.00 in cash per Series C Preferred Share (plus all accrued but unpaid dividends thereon); and (iii) all of the issued and outstanding mandatory convertible preferred shares, Series E of the Company (the \u201cSeries E Preferred Shares\u201d and, together with the Common Shares and Series C Preferred Shares, the \u201cShares\u201d) for C$3.10 in cash per Series E Preferred Share (plus all accrued but unpaid dividends thereon).<\/p>\n

As a result of the completion of the Arrangement, it is expected that the Common Shares and Series C Preferred Shares will be de-listed from the Toronto Stock Exchange (the \u201cTSX\u201d) shortly after the date hereof. The Company expects that its 6.00% Senior Unsecured Debentures of the Company due December 31, 2026 (the \u201c2026 Debentures\u201d), 6.25% Senior Unsecured Debentures of the Company due December 31, 2027 (the \u201c2027 Debentures\u201d) and 6.50% Convertible Senior Unsecured Debentures of the Company due April 30, 2030 (the \u201c2030 Convertible Debentures\u201d and, together with the 2026 Debentures and 2027 Debentures, the \u201cDebentures\u201d) will continue to be listed on the TSX and the Company will continue to be a reporting issuer under applicable Canadian securities laws.
…<\/b>
Immediately prior to giving effect to the Arrangement and the transactions related thereto, the Purchaser did not own, or exercise control or direction over, directly or indirectly, any Shares. Pursuant to the Arrangement and the transactions related thereto, the Purchaser acquired ownership and control over (i) 281,733,450 Common Shares, representing 100% of the issued and outstanding Common Shares, for an aggregate purchase price of C$873,373,695.00, (ii) 3,712,400 Series C Preferred Shares, representing 100% of the issued and outstanding Series C Preferred Shares, for an aggregate purchase price of C$97,006,761.40<\/b> and (iii) 27,450,000 Series E Preferred Shares, representing 100% of the issued and outstanding Series E Preferred Shares, for an aggregate purchase price of C$86,137,528.44. A copy of the Purchaser\u2019s early warning report will be filed under the Company\u2019s profile on SEDAR+ and further information and\/or a copy of the Purchaser\u2019s early warning report may be obtained from Sean Milne, Chief Financial Officer of the Company, Tel: 561-717-4772. The Purchaser\u2019s principal office is located at 777 South Flagler Drive, Suite 800 East, West Palm Beach, Florida 33401.<\/p><\/blockquote>\n

ECN.PR.C was issued as a FixedReset, 6.25%+519M625, that commenced trading 2017-5-25<\/a> after being announced 2017-5-15<\/a>. It reset to 7.937%<\/a> in 2022. The potential for the acquisition was announced in November, 2025<\/a>. The intended acquisition of the Series C shares was reported in January<\/a>. ECN.PR.C was tracked by HIMIPref\u2122 but relegated to the Scraps subindex on credit concerns.<\/p>\n

Thanks to Assiduous Readers Fletcher Lynd<\/a> and CanSiamCyp<\/a> for bringing this to my attention!<\/p>\n","protected":false},"excerpt":{"rendered":"

ECN.PR.C was delisted today in accordance with the company’s press release dated 2026-04-24 (emphasis added – JH): ECN Capital Corp. (TSX: ECN) (\u201cECN Capital\u201d or the \u201cCompany\u201d) announced today the successful completion of the Company\u2019s …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-51844","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/51844","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51844"}],"version-history":[{"count":3,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/51844\/revisions"}],"predecessor-version":[{"id":51848,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/51844\/revisions\/51848"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}