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Keyera Announces Closing of $2.07 Billion Bought-Deal Offering of Subscription Receipts
Keyera Announces Closing of $2.07 Billion Bought-Deal Offering of Subscription Receipts ...
About this update from Keyera Corp.
[{"type":"text","content":"\n\n\n\n Keyera Announces Closing of $2.07 Billion Bought-Deal Offering of Subscription Receipts\n \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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n June 20, 2025\n \n\n /CNW/ - Keyera Corp (\"Keyera\" or the \"Company\") (TSX: KEY) today announced that it has completed its previously announced offering (the \"Offering\") of subscription receipts (\"Subscription Receipts\"). Pursuant to the Offering, the Company issued 52,874,700 Subscription Receipts, including 6,896,700 Subscription Receipts issued pursuant to the exercise in full by the underwriters of their over-allotment option. The Subscription Receipts were issued at a price of\n \n $39.15\n \n per Subscription Receipt, for total gross proceeds of approximately\n \n $2\n \n .07 billion.\n \n\n Each Subscription Receipt will entitle the holder thereof, without payment of any additional consideration or further action on the part of the holder, to receive one common share of Keyera (\"Common Share\") upon closing of the Acquisition (as defined below). In addition, while the Subscription Receipts remain outstanding, holders will be entitled to receive cash payments (\"Dividend Equivalent Payments\") per Subscription Receipt that are equal to dividends declared by Keyera on each Common Share. Such Dividend Equivalent Payments will have the same record date and payment date as the related Common Share dividends.\n \n\n The Subscription Receipts will begin trading on the Toronto Stock Exchange (\"TSX\") under the symbol \"KEY.R\" today.\n \n\n The net proceeds from the Offering will be held in escrow and are expected to be used to finance a portion of the purchase price of Keyera's previously announced acquisition of substantially all of Plains' Canadian natural gas liquids business and select U.S. assets (the \"Acquisition\"). The Acquisition is expected to close in the first quarter of 2026, subject to the sa...