Deal sells 20,217,260 shares to fund acquisition of four solar assets
By Devika Patel
Knoxville, Tenn., May 11 – Abengoa Yield plc said it plans a $670 million private placement of stock. The deal priced on May 8.
The company will sell 20,217,260 shares. The price per share, $33.14, is a 3.01% discount to the May 7 closing share price of $34.17.
Settlement is expected May 14.
Proceeds will finance the company’s planned acquisition of four solar assets.
Seville, Spain-based Abengoa is an industrial and technology group.
| Issuer: | Abengoa Yield plc
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| Issue: | Stock
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| Amount: | $670 million
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| Shares: | 20,217,260
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| Price: | $33.14
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| Warrants: | No
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| Pricing date: | May 8
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| Settlement date: | May 14
|
| Stock symbol: | Nasdaq: ABY
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| Stock price: | $34.17 at close May 7
|
| Market capitalization: | $2.97 billion
|
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