AltaGas completes $405-million placement
AltaGas Ltd
Symbol C : ALA
Shares Issued 105,792,041
Close 2013-04-03 C$ 35.15
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AltaGas completes $405-million placement
2013-04-04 08:56 ET - News Release
An anonymous director reports
ALTAGAS LTD. ANNOUNCES CLOSING OF $405 MILLION COMMON SHARE OFFERING
AltaGas Ltd. has closed its previously announced public offering of 11,615,000 common shares at a price of $34.90 per common share for aggregate gross proceeds of approximately $405-million.
The aggregate offering comprises the previously announced offering of 10.1 million shares at $34.90 per share for gross proceeds of approximately $352-million, together with the underwriters exercising the overallotment option for the sale of an additional 1,515,000 shares at $34.90 per share for additional gross proceeds of approximately $53-million.
The offering was first announced on March 25, 2013, when AltaGas entered into an agreement with a syndicate of underwriters co-led by TD Securities Inc. and RBC Capital Markets.
Net proceeds will be used, in part, to finance the acquisition of the Blythe Energy Centre, as well as for general corporate purposes and to support future growth initiatives, including those related to AltaGas's energy export business conducted through its AltaGas Idemitsu Joint Venture LP.
The common shares will begin trading on the Toronto Stock Exchange today under the symbol ALA.
We seek Safe Harbor.