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Algonquin Power & Utilities Corp. Establishes At-The-Market Equity Program
Algonquin Power & Utilities Corp. Establishes At-The-Market Equity Program Alg...
About this update from Algonquin Power & Utilities Corp.
[{"type":"text","content":"\n\n\n\nAlgonquin Power & Utilities Corp. Establishes At-The-Market Equity Program\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. Establishes At-The-Market Equity Program\nCanada NewsWire\nOAKVILLE, ON, Feb. 28, 2019\n\n\n\nOAKVILLE, ON, Feb. 28, 2019 /CNW/ - Algonquin Power & Utilities Corp. (\"APUC\") (TSX/NYSE: AQN) today announced that it has established an at-the-market equity program (\"ATM Program\") that allows APUC to issue up to U.S.$250,000,000 (or the equivalent in Canadian dollars) of common shares from treasury (\"Common Shares\") to the public from time to time, at APUC's discretion, at the prevailing market price when issued on the Toronto Stock Exchange (the \"TSX\"), the New York Stock Exchange (the \"NYSE\") or on any other existing trading market for the Common Shares in Canada or the United States. \nThe ATM Program provides APUC with additional financing flexibility should it be required in the future. The volume and timing of distributions under the ATM Program, if any, will be determined at APUC's sole discretion. The ATM Program will be effective until October 19, 2020 unless terminated prior to such date by APUC or otherwise in accordance with the terms of the equity distribution agreement dated February 28, 2019 (the \"Equity Distribution Agreement\"). APUC intends to use the net proceeds from the ATM Program, if any, to fund acquisitions, general and administrative expenses, working capital needs, repayment of indebtedness and/or other general corporate purposes.\nSales of the Common Shares through the ATM Program will be made pursuant to the terms of the Equity Distribution Agreement among APUC and RBC Dominion Securities Inc., J.P. Morgan Securities Canada Inc., Merrill Lynch Canada Inc., Scotia Capital Inc. and TD Securities Inc. (collectively, the \"Canadian Agents\") and RBC Capital Markets, LLC, J.P. Morgan Securities LLC, Merrill Lynch, Pierce Fenner & Smith Incorporated, Scotia Capital (USA) Inc. and TD Securities (USA) LLC (the \"U.S. Agents\" and, together with the Canadian Agents, t...