Secondary Stock OfferingsBy The Online Investor Staff, updated Tue., Oct. 15, 10:46 PM
|This Slide: #2 of 25|
Slide #2. Algonquin Power & Utilities Corp. — Secondary Offering
Algonquin Power & Utilities Corp. (NYSE:AQN)
Date of Pricing:
Price Per Share:
Secondary Offering Details:
Algonquin Power & Utilities Corp. (TSX/NYSE: AQN) ("APUC" or the "Company") today announced the commencement of an underwritten marketed public offering (the "Offering") of 21,520,804 common shares of the Company. In conjunction with the Offering, APUC expects to grant the underwriters involved in the Offering an option to purchase up to an additional 3,228,120 common shares for a period of 30 days following pricing of the Offering. -updated 10/10- Algonquin Power & Utilities Corp. (TSX/NYSE: AQN) ("APUC" or the "Company") today announced that it has priced an underwritten marketed public offering of 23,000,000 common shares of the Company at a price to the public of US$13.50 per share (the "Offering"), for total gross proceeds to APUC of US$310.5 million, before deducting underwriting discounts and commissions and other offering expenses payable by APUC. The Offering was upsized to 23,000,000 common shares from the previously announced offering size of 21,520,804 common shares in light of market demand. In conjunction with the Offering, APUC has granted the underwriters involved in the Offering an option to purchase up to an additional 3,450,000 common shares of the Company for a period of 30 days. The Offering is expected to close on or about October 16, 2019, subject to customary closing conditions.
Algonquin Power & Utilities is a generation, transmission and distribution utility company. Co.'s distribution business operates in the U.S. under the name of Liberty Utilities Co. and provides rate regulated water, electricity and natural gas utility services. Co.'s generation business operates under the name Algonquin Power Co. and owns or has interests in non-regulated North American based contracted wind, solar, hydroelectric and natural gas powered generating facilities. Co.'s transmission business operates under the name Liberty Utilities (Pipeline & Transmission) and invests in rate regulated electric transmission and natural gas pipeline systems in the U.S. and Canada.
Open the AQN Page at The Online Investor »
Buy (2.60 out of 4)
(ranked lower than approx. 82% of all stocks covered)
Based on Zacks ABR data;
powered by Xignite