TransactionsAlgonquin Power & Utilities Corp. Raises $86 Million in Shares and Debentures OfferingPublished: 12/03/2009 On December 2, 2009, Algonquin Power & Utilities Corp. completed, on a bought deal basis, an offering of 5,980,000 common shares at $3.35 per Common Share for gross proceeds of $20,033,000 and $55,000,000 principal amount of 7% convertible unsecured subordinated debentures due June 30, 2017. The underwriters of the offering, led by CIBC World Markets Inc. and BMO Capital Markets, also exercised in full an over-allotment option to purchase an additional 897,000 Common Shares and $8,250,000 principal amount of Debentures, on the same terms. As a result of the closing of the main offering and the over-allotment option, Algonquin raised an aggregate of $86,287,950 in gross proceeds. Cassels Brock & Blackwell LLP acted for the underwriters with a team that included Norman Findlay (Securities), Howard Burshtein (Securities), Chris Norton (Tax) and Jason MacIntosh (Securities). |