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Common stock and additional paid-in capital
 6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Common stock and additional paid-in capital Common stock and additional paid-in capital
The following details the changes in issued and outstanding common shares for the three and six months ended June 30, 2024.
(in millions)Number of shares outstandingAmount
Common shares and additional paid-in capital outstanding as at March 31, 202422.4 $651.6 
Settlement of RSUs0.1 — 
Stock-based compensation – RSUs— 0.5 
Stock-based compensation – options— 0.4 
Common shares and additional paid-in capital outstanding as at June 30, 202422.5 $652.5 
Common shares and additional paid-in capital outstanding as at December 31, 202322.2 $648.3 
Settlement of RSUs0.3 — 
Stock-based compensation – RSUs— 3.2 
Stock-based compensation – options— 1.0 
Common shares and additional paid-in capital outstanding as at June 30, 202422.5 $652.5 
At the annual general and special meeting of the Company’s shareholders on May 23, 2024, the shareholders approved an amendment to the Company’s articles to consolidate all of the Company’s issued and outstanding common shares on the basis of a consolidation ratio within a range between two pre-consolidation common shares for one post-consolidation common share and eight pre-consolidation common shares for one post-consolidation common share, and granted to the Board the authority to fix the consolidation ratio. The Board subsequently approved a share consolidation and fixed the consolidation ratio at one post-consolidation common share for every eight pre-consolidation common shares. On June 3, 2024, the Company obtained from the Ontario Ministry of Public and Business Service Delivery a certificate of amendment in respect of the articles of amendment filed to effect a share consolidation of all the common shares at a ratio of one post-consolidation common share for every eight pre-consolidation common shares effective on June 3, 2024 (the “Share Consolidation”). Subsequently, the Company restated the provisions of its existing articles, without any changes to such provisions, by filing restated articles of incorporation on July 18, 2024.
As a result of the Share Consolidation, every eight common shares have been automatically consolidated into one common share. Any fractional shares resulting from the Share Consolidation have been deemed to have been tendered by the holder thereof immediately following the Share Consolidation to the Company for cancellation for no consideration. The Share Consolidation did not affect the total number of authorized common shares or modify any voting rights or other terms of the common shares. The common shares began trading on the NYSE on a post-consolidation basis on June 4, 2024. As a result of the Share Consolidation, the exercise or conversion price and the number of common shares issuable under any of the Company’s outstanding securities that are exercisable or convertible into common shares, including under equity awards, warrants, rights, convertible notes and other similar securities, were proportionally adjusted in accordance with the terms of such securities.
All per share amounts, common shares outstanding and stock-based compensation amounts with respect thereto in the unaudited condensed consolidated interim financial statements have been retroactively adjusted to reflect the Share Consolidation, as if the consolidation occurred at the beginning of the earliest period presented in this Quarterly Report on Form 10-Q.