08:58 AM EST, 02/04/2025 (MT Newswires) -- Aimia Inc. ( AIMFF ) on Tuesday announced the final results of its substantial issuer bid to purchase for cancellation all of its preferred shares in consideration for 9.75% senior unsecured notes.

According to a statement, based on the count provided by TMX Trust, the depository for the Offers, a total of 7,889,931 Preferred Shares were validly tendered. The total is comprised of: Series 1: 4,528,157 shares, representing 89.1% of the issued and outstanding shares of this series; and Series 3: 660,174 shares, representing 40.0% of the issued and outstanding shares of this series; and Series 4: 2,701,600 shares, representing 99.8% of the issued and outstanding shares of this series.

Tuesday's statement said Preferred Shares validly deposited by preferred shareholders as of January 30, 2025 have been taken up and paid for by the company and Aimia ( AIMFF ) issued $142,603,700 principal amount of 2030 notes in consideration.

Based on the number of preferred shares validly tendered and 2030 Notes issued in consideration, Aimia ( AIMFF ) said it will generate approximately $6.4 million in annual cash savings when comparing the annual preferred dividends and Part VI.1 tax to the annual cash coupon interest payments. Under IFRS, Aimia ( AIMFF ) expects to record a $53.7 million gain on the transaction, based on the exchange value of the 2030 Notes and the carrying value of the Preferred Shares exchanged.