Capital Power Announces $250 million Bought Offering of Common Shares
EDMONTON, Alberta, May 25, 2021 (GLOBE NEWSWIRE) -- Capital Power Corporation (TSX: CPX) (Capital Power or the Company) announced today that it has entered into an agreement with a syndicate of underwriters led by TD Securities Inc. and CIBC Capital Markets (collectively the Underwriters), pursuant to which the Underwriters have agreed to purchase on a bought deal basis, an aggregate of6,505,000 common shares of Capital Power, at an offering price of $38.45 per common share (the Offering Price) for total gross proceeds to the Company of approximately $250 million (the Offering).
- EDMONTON, Alberta, May 25, 2021 (GLOBE NEWSWIRE) -- Capital Power Corporation (TSX: CPX) (Capital Power or the Company) announced today that it has entered into an agreement with a syndicate of underwriters led by TD Securities Inc. and CIBC Capital Markets (collectively the Underwriters), pursuant to which the Underwriters have agreed to purchase on a bought deal basis, an aggregate of6,505,000 common shares of Capital Power, at an offering price of $38.45 per common share (the Offering Price) for total gross proceeds to the Company of approximately $250 million (the Offering).
- The Underwriters have also been granted an option (the Over-Allotment Option) to purchase up to an additional975,750 common shares at the Offering Price to cover over-allotments, if any.
- If the Over-Allotment Option is exercised in full, total gross proceeds to the Company from the Offering will be approximately $288 million.
- Capital Power owns over 6,400 MW of power generation capacity at 26 facilities across North America.