- Spin Master Corp. (TOY) announced that the Toronto Stock Exchange has accepted the company’s notice to launch a normal course issuer bid (NCIB)
- Between January 9, 2023, and January 8, 2024, the company may repurchase up to 2,845,904 subordinate voting shares
- All subordinate voting shares repurchased under the bid will be cancelled
- Spin Master is a children’s entertainment company
- Spin Master Corp (TOY) opened trading at C$33.71
Spin Master Corp. (TOY) announced that the Toronto Stock Exchange has accepted the company’s notice to launch a normal course issuer bid (NCIB).
Between January 9, 2023, and January 8, 2024, the company may repurchase up to 2,845,904 subordinate voting shares.
Daily purchases under the bid will be limited to 20,814 subordinate voting shares other than purchases made pursuant to the block purchase exception.
The bid will be funded using existing cash resources and draws on its credit facility. All subordinate voting shares repurchased under the bid will be cancelled.
As of December 31, 2022, the Company had 34,239,707 issued and outstanding subordinate voting shares and a public float of 28,459,048 subordinate voting shares.
The bid will be executed consistent with Spin Master’s capital allocation strategy of prioritizing investment to grow the business over the long term.
Spin Master is a children’s entertainment company creating exceptional play experiences through its three create centres; Toys, Entertainment and Digital Games.
Spin Master Corp (TOY) opened trading at C$33.71.