04:47 PM EDT, 07/12/2024 (MT Newswires) -- Coveo Solutions ( CVOSF ) on Friday said it acquired and paid for all 6.49-million shares tendered to its $50-million substantial issuer bid (SIB) and is renewing its normal-course issuer bid (NCIB).

The company said it paid $7.70 per share in the SIB and reduced its outstanding shares by by 6.2%.

With the SIB completed, the company said it received exchange approval to renew its NCIB for 12 months beginning July 17, buying back and canceling up to 2.69-million shares.

The company said under its current NCIB, which expires July 16, it repurchased 1.39-million of an allowed 2.56-million shares.

Coveo shares closed up $0.15 to $6.60 on the Toronto Stock Exchange.