Emera to Raise USD552.4 Million in Public Offering of Shares

Published: Dec 06 2017
Deal Summary

Emera Incorporated, a diverse energy and services company, has announced a bought deal public offering of 14,614,000 common shares at a price of CAD47.9 (USD37.8) per share, for gross proceeds of CAD700 million (USD552.4 million). In addition, the underwriters will also have the option to purchase up to an additional 1,045,000 common shares to cover over-allotments, if any, and for market stabilization purposes, during the 30 days following the closing of the offering.

RBC Capital Markets, CIBC Capital Markets, Scotiabank and TD Securities Inc. are acting as joint bookrunners to the company for the offering.

The company intends to use the proceeds to support its recently announced growth initiatives and general corporate purposes.

The offering is subject to the receipt of all necessary regulatory and stock exchange approvals, and is expected to be completed on or about December 28, 2017.

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