# High Arctic agrees to C$20.2M go-private deal with Newport Capital

> High Arctic will be acquired for C$1.59 a share and expects a separate C$0.20–C$0.30 distribution tied to working capital.

Source page: https://stoqly.net/news/high-arctic-newport-go-private-2026

- **Published:** 2026-11-14T09:05:00+00:00
- **Section:** In the news

High Arctic Energy Services said on November 13, 2026 that it had entered a definitive arrangement agreement to be acquired by Newport Capital Ltd. in a go-private transaction. Newport, directly or through a wholly owned subsidiary, has agreed to pay C$1.59 in cash for each outstanding High Arctic share, subject to the agreement's adjustments.

High Arctic said the C$1.59 offer represented approximately a 19% premium to the TSX closing price on November 13 and about a 27% premium to the 20-day volume-weighted average price. The company also expects shareholders to receive a separate cash distribution of between C$0.20 and C$0.30 per share, with the final amount tied to working capital at closing and subject to the agreement's conditions.

The transaction is structured as a statutory plan of arrangement under Alberta's Business Corporations Act. High Arctic said all directors and officers, together with FBC Holdings Sàrl, representing about 49.2% of outstanding shares in aggregate, had signed voting support agreements. Completion remains subject to shareholder, court, regulatory and other customary approvals; Newport has said the deal is not subject to a financing condition.

The board, advised by its financial and legal advisers and having received a fairness opinion, unanimously determined that the arrangement was fair and in the corporation's best interests and recommended that shareholders vote in favour. High Arctic said it expected closing in December 2026 and, in any event, before February 28, 2027.

- Cash consideration: C$1.59/share +19% vs Nov. 13 close
- Base purchase price: ~C$20.2M before adjustments
- Expected distribution: C$0.20–C$0.30/share working capital-based
- Expected closing: Dec. 2026 no later than Feb. 28, 2027

- [High Arctic Energy Services, definitive agreement release dated November 13, 2026](https://www.globenewswire.com/news-release/2026/11/14/3403026/0/en/high-arctic-energy-services-inc-enters-into-a-definitive-agreement-to-be-acquired-by-newport-capital-in-a-go-private-transaction-and-announces-intent-to-make-a-cash-distribution-to.html)
- [High Arctic Energy Services, Drilling Rig 103 official factsheet](https://higharctic.com/wp-content/uploads/2025/10/HA-Drilling-Rig-103-Factsheet.pdf)

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Written by Stoqly from SEC filings and market data. For information only — not investment advice or a recommendation to buy, sell or hold any security.