Company sells subscription receipts at C$5.00 each to investor Emera
By Devika Patel
Knoxville, Tenn., Dec. 9 - Algonquin Power & Utilities Corp. said it has arranged a private placement of subscription receipts.
The company will sell the receipts at C$5.00 apiece to Emera Inc. The receipts convert to 12 million common shares.
The price per receipt is a 3.95% premium to the Dec. 8 closing share price of C$4.81.
Oakville, Ont.-based Algonquin is an electric power and distribution company.
| Issuer: | Algonquin Power & Utilities Corp.
|
| Issue: | Subscription receipts
|
| Price: | C$5.00
|
| Conversion ratio: | Into 12 million shares
|
| Warrants: | No
|
| Investor: | Emera Inc.
|
| Pricing date: | Dec. 9
|
| Stock symbol: | Toronto: AQN
|
| Stock price: | C$4.81 at close Dec. 8
|
| Market capitalization: | C$469.85 billion
|
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