10:18 AM EDT, 06/24/2024 (MT Newswires) -- Advantage Energy ( AAVVF ) was at last look up more than 2% after saying Monday that it completed its previously announced acquisition of certain Charlie Lake and Montney assets from a private seller for $445 million, subject to closing adjustments.

According to a statement, the acquisition was partially funded by a previously closed bought deal financing of nearly six million subscription receipts priced at $11.00 apiece as well as an offering of near $144 million aggregate principal amount of 5.0% extendible convertible unsecured subordinated debentures for nearly $209 million in proceeds, which included the full exercise of the over-allotment option with respect to the debentures.

The company funded the remainder of the consideration using its upsized $650 million revolving credit facility, the statement noted.

Trading in the Subscription Receipts on the Toronto Stock Exchange is expected to be halted and the Subscription Receipts will be delisted at the market close on June 24, 2024 .

Meanwhile, RBC Capital Markets said Monday that the deal boosts Advantage's "mix and margin" while also diversifying the company's portfolio, "paving the way for meaningful regional synergies."

RBC also noted that Advantage's increased debt levels put its buyback program -- "a positive investor focal point" -- on hiatus until 2026, when the majority of the upside/free cash flow related to the deal should start to weigh in.

The company's share price was up 2.42% to near $10.50 at last look.