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Algonquin Power & Utilities Corp. Announces C$172.5 Million Offering of Common Shares
Algonquin Power & Utilities Corp. Announces C$172.5 Million Offering of Common Shares ...
About this update from Algonquin Power & Utilities Corp.
[{"type":"text","content":"\n\n\n\nAlgonquin Power & Utilities Corp. Announces C$172.5 Million Offering of Common Shares\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nAlgonquin Power & Utilities Corp. Announces C$172.5 Million Offering of Common Shares\nCanada NewsWire\nOAKVILLE, ON, Dec. 14, 2018\n\n\n\nOAKVILLE, ON, Dec. 14, 2018 /CNW/ - 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\").\nThe 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 on or about December 20, 2018, subject to the satisfaction of customary conditions, including the approval of the Shares for listing on the Toronto Stock Exchange and the New York Stock Exchange.\nThe Shares are being offered pursuant to the Company's shelf prospectus and registration statement on Form F-10 previously filed with the U.S. Securities and Exchange Commission (the \"SEC\") under the U.S./Canadian multijurisdictional disclosure system. A prospectus supplement related to the Offering will be filed with the Canadian Securities Administrators and the SEC.\nThis news release does not constitute an offer to sell or the solicitation of any offer to buy, nor will there be any sale of these securities, in any province, state or jurisdiction in whic...