Algonquin Power & Utilities Corp. Announces C$172.5 Million Offering of Common Shares
Algonquin Power & Utilities Corp. Common Shares (AQN)
Last algonquin power & utilities corp. common shares earnings: 2/27 07:54 pm
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algonquinpower.com
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Source: PR Newswire
OAKVILLE, ON, Dec. 14, 2018 /PRNewswire/ - Algonquin Power & Utilities Corp. (TSX: AQN) (NYSE: AQN) ("APUC" or the "Company") today announced that it has agreed with certain institutional investors to issue and sell 12,536,350 common shares of APUC (the "Shares") at a price of C$13.76 per share, for gross proceeds of approximately C$172.5 million (the "Offering").The Shares are being offered and sold directly to the institutional investors by APUC without an underwriter or placement agent and no fees will be payable by APUC in connection with the Offering. The price of the Shares represents approximately 96% of the volume weighted average trading price of APUC common shares on the Toronto Stock Exchange for the five day period ending December 13, 2018. The proceeds of the Offering are anticipated to be used to partially finance APUC's recently announced acquisition of Enbridge Gas New Brunswick Limited Partnership, and for general corporate purposes. The Offering is expected to close
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