OAKVILLE, ON, Dec. 20, 2018 /CNW/ - Algonquin Power &
Utilities Corp. (TSX/NYSE: AQN) ("APUC" or the "Company") today
announced that it has closed the previously reported equity
offering, pursuant to which it issued and sold 12,536,350 common
shares of APUC (the "Shares") to certain institutional investors at
a price of C$13.76 per Share, for
gross proceeds of approximately C$172.5
million (the "Offering"). The Shares were offered and
sold directly to the institutional investors by APUC without
an underwriter or placement agent. The proceeds of the
Offering are anticipated to be used to partially finance APUC's
recently announced acquisition of Enbridge Gas New Brunswick
Limited Partnership, and for general corporate purposes.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the Shares, nor shall there be any
sale of these securities in any state or jurisdiction in which such
an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
All dollar amounts referenced herein are in U.S. dollars unless
otherwise noted.
About Algonquin Power & Utilities Corp.
APUC is a diversified generation, transmission and distribution
utility with approximately $9
billion of total assets. Through its two business groups, APUC
provides rate regulated natural gas, water, and electricity
generation, transmission, and distribution utility services to over
766,000 connections, and is committed to being a global leader in
the generation of clean energy through its ownership of, or
interest in, long term contracted wind, solar and hydroelectric
generating facilities representing approximately 1.7 GW of
installed capacity. With a team of over 2,300 talented employees,
APUC delivers continuing growth through an expanding pipeline of
renewable energy development projects, organic growth within its
rate regulated generation, distribution and transmission
businesses, and the pursuit of accretive acquisitions. APUC's
Common Shares, Series A preferred shares and Series D preferred
shares are listed on the Toronto Stock Exchange under the symbols
AQN, AQN.PR.A, and AQN.PR.D, respectively. APUC's Common Shares and
Series A subordinated notes are also listed on the New York Stock
Exchange under the symbols AQN and AQNA.
Visit APUC at www.algonquinpower.com and follow us on
Twitter @AQN_Utilities.
Caution Regarding Forward-Looking Information
Certain statements included in this news release constitute
''forward-looking information'' within the meaning of applicable
securities laws in each of the provinces of Canada and the respective policies,
regulations and rules under such laws and ''forward-looking
statements'' within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995 (collectively, ''forward-looking
statements"). The words "will", "expects", "anticipates" and
similar expressions are often intended to identify forward-looking
statements, although not all forward-looking statements contain
these identifying words. Specific forward-looking statements
contained in this news release include the expected use of the net
proceeds from the Offering. These statements are based on factors
or assumptions that were applied in drawing a conclusion or making
a forecast or projection, including assumptions based on historical
trends, current conditions and expected future developments. Since
forward-looking statements relate to future events and conditions,
by their very nature they require making assumptions and involve
inherent risks and uncertainties. APUC cautions that although it is
believed that the assumptions are reasonable in the circumstances,
these risks and uncertainties give rise to the possibility that
actual results may differ materially from the expectations set out
in the forward-looking statements. Material risk factors include
those set out in APUC's most recent annual and interim management's
discussion and analysis, most recent annual information form and
prospectus and prospectus supplement relating to the Offering.
Given these risks, undue reliance should not be placed on these
forward-looking statements, which apply only as of their dates.
Other than as specifically required by law, APUC undertakes no
obligation to update any forward-looking statements to reflect new
information, subsequent or otherwise.
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SOURCE Algonquin Power & Utilities Corp.