Greenfire Resources plans C$575M rights offering to fund Connacher deal

Greenfire Resources plans to raise at least C$575 million via a rights offering to fund its proposed acquisition of Connacher Oil and Gas. Majority shareholder Waterous Energy Fund will backstop the full amount. The deal financing is supportive, but the impact depends on acquisition execution and final terms.

Analysis

Greenfire Resources plans to raise at least C$575 million via a rights offering to fund its proposed acquisition of Connacher Oil and Gas. Majority shareholder Waterous Energy Fund will backstop the full amount. The deal financing is supportive, but the impact depends on acquisition execution and final terms.