Receipts will be convertible into a total of 3,316,583 common shares
By Devika Patel
Knoxville, Tenn., Dec. 2 – Algonquin Power & Utilities Corp. said it will raise about C$33 million in a private placement of subscription receipts.
The receipts are convertible into a total of 3,316,583 common shares.
Proceeds will be used for the acquisition of Park Water, which was announced on Sept. 19.
The oil and gas explorer is based in Calgary, Alta.
| Issuer: | Algonquin Power & Utilities Corp.
|
| Issue: | Subscription receipts
|
| Amount: | C$33 million (approximate)
|
| Conversion ratio: | Into 3,316,583 common shares (total)
|
| Warrants: | No
|
| Pricing date: | Dec. 2
|
| Stock symbol: | Toronto: AQN
|
| Stock price: | C$9.87 at close Dec. 1
|
| Market capitalization: | C$2.29 billion
|
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