Badger Announces Acceptance of Its Notice of Intention to Renew Its Normal Course Issuer Bid
Rhea-AI Summary
Badger Infrastructure Solutions (BDGIF) received Toronto Stock Exchange acceptance of its notice to renew a normal course issuer bid (NCIB). The NCIB allows Badger to purchase and cancel up to 2,959,178 common shares, equal to 10.0% of its public float and about 8.8% of its 33,659,562 issued and outstanding shares, from August 27, 2026 to the earlier of August 26, 2027, completion, or termination.
The Exchange also approved an automatic securities purchase plan, enabling purchases during blackout periods within preset parameters. Under the current NCIB (expiring August 25, 2026), Badger was authorized to buy 2,910,453 shares and has purchased and cancelled 65,162 at a weighted average price of CAD$63.18.
Positive
- Renewed NCIB for up to 2,959,178 shares (10.0% of public float)
- Potential cancellation of up to 8.8% of 33,659,562 outstanding shares
- Automatic securities purchase plan enables blackout-period repurchases under preset parameters
Negative
- Under prior NCIB, only 65,162 shares purchased out of 2,910,453 authorized
- Weighted average repurchase price of prior NCIB was CAD$63.18 per share, implying meaningful cash outlay for limited volume
AI-generated analysis. How Rhea-AI works. Not financial advice.
Calgary, Alberta--(Newsfile Corp. - August 24, 2026) - On July 30, 2026, Badger Infrastructure Solutions Ltd. (TSX: BDGI) ("Badger", the "Company", "we", "our" or "us") announced its intention to file with the Toronto Stock Exchange (the "Exchange") a notice of intention to renew its normal course issuer bid (the "Notice"). The Exchange has accepted the Notice providing for the purchase and cancellation by Badger of up to 2,959,178 common shares in the capital of the Company ("Common Shares") during the period commencing on August 27, 2026 and ending on the earlier of: (i) August 26, 2027; (ii) the date on which the number of Common Shares that Badger intends to acquire under its bid have been purchased; and (iii) the date on which the Company terminates its bid at its option (the "NCIB").
The Company believes that, from time-to-time, the market price of its Common Shares may not fully reflect the underlying value of its business, and that purchases of Common Shares for cancellation may provide an opportunity to enhance long-term shareholder returns.
The maximum number of Common Shares that may be purchased and cancelled under the NCIB represents
In accepting the Notice, the Exchange also approved the implementation of an automatic securities purchase plan (the "ASPP"). Pursuant to the ASPP, Badger's broker may facilitate purchases of Common Shares during blackout periods within certain parameters set by Badger and as prescribed by the Exchange, applicable Canadian securities laws, and the terms of the parties' written agreement.
Any Common Shares purchased for cancellation pursuant to the NCIB will be purchased on the Company's behalf by its broker through the facilities of the Exchange (and any alternative trading systems in Canada through which trades of Common Shares may be affected under applicable securities laws) at the market price of the Common Shares at the time of purchase.
Under its normal course issuer bid which commenced August 26, 2025 and expires August 25, 2026, the Company had obtained approval from the Exchange to purchase and cancel up to 2,910,453 Common Shares, and the Company has actually purchased and cancelled 65,162 Common Shares entirely through open market transactions at a weighted average price of CAD
About Badger Infrastructure Solutions Ltd.
Badger is North America's largest provider of non-destructive excavation and related services, serving a broad customer base across a diverse range of construction, utility, transportation, industrial and other critical infrastructure related markets. Badger's customers typically operate near high concentrations of underground power, communication, water, gas and sewer lines, where safety and economic risks are high and where non-destructive excavation provides a safe alternative for certain customer excavation requirements.
Badger's key system is the Badger HydrovacTM, which uses a pressurized water stream to liquify the soil cover, which is then removed with a powerful vacuum and deposited into a storage tank. Badger operates a vertically integrated business model, designing and manufacturing its Badger Hydrovac fleet at its facility in Red Deer, Alberta, which has an annual production capacity of more than 350 units and enables Badger to produce units at a lower cost compared to purchasing from third parties. This approach provides Badger with direct control over equipment specifications, fleet availability, and lifecycle management, supporting operational consistency across its Canadian and U.S. operations. To complement the Badger Hydrovac and expand Badger's service offerings, Badger has a select number of specialty units, mainly combo trucks, sewer and flusher units, dump trucks, rock slingers, and airvacs.
For further information:
Robert Blackadar, President & Chief Executive Officer
Robert Dawson, Chief Financial Officer
Badger Infrastructure Solutions Ltd.
#3100, 525 - 8th Avenue SW
Calgary, AB T2P 1G1
Telephone: (403) 264-8500
Email: ir@badgerinc.com
Website: www.badgerinc.com
Source: Badger Infrastructure Solutions Ltd.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/311193