Algonquin Power & Utilities Corp T.AQN

$900 Offer of AQN Common Shares @ $17.10 per share

[mydividends]

Well this is BS... as per previous posts, management was selling a high amount of their shares at a higher price not too long ago for this to then come out... disgusting 

https://www.globenewswire.com/news-release/2020/07/08/2059603/0/en/Algonquin-Power-Utilities-Corp-Announces-C-900-Million-Offering-of-Common-Shares-Comprised-of-C-550-Million-Bought-Deal-Offering-and-Concurrent-C-350-Million-Offering-to-an-Institu.html

[Dibah42]

Best laid plans sometimes go awry.  When they announced the ASDP on Mar 9th it was trading at $22+  but alas there was a 30 waiting period during which the pandemic crash hit.

[Xebecguy2020202]

This actually fully explains the dump from the pump at the mid $19s a few weeks back. Be patient.  A similar deal happened to Xebec Adsorption.  They sold shares at $3.60 when it was trading at $4.00.  The stock essentially dropped to that range, but once the financing deal was done, it has now skyrocketed to $4.50. You don't buy and flip utilities, you buy them for dividend

[BSdetector2016]

Management needs to be called out on the carpet on this one: (1) Insider dump-a-thon prior. (2) Shyt price for the offering. (3) Oinking by the institutional investor. 

[Vega1357]

At least we don't have to be concerned about the company being short of cash in near future.

[Shadow1973]

So opening price tomorrow is........?

[Vega1357]

Probably $17.00 and it may dip below that. It depends on how quickly the shares are taken up, but no matter what, the stock will probably rebound before long. The positive side of this is that AQN is a growing company and growth needs to be financed somehow. This will lead to a significantly higher share price down the road. 

[masfortuna]

We are trading at $17.50...The Offering was set at $17.10.  They set the offering when the sp was trading at around the $20 level.  What do you guys think will happen if the sp drops below $17.10???  LMAO I could have picked this up for $16.90 2 weeks ago on the open market. This would have been a problem if they ahd set the offering at SUB $15  and not at $17.10.  My

[theman0]

Man, are you in for a reality check tomorrow.

[masfortuna]

Will it drop?  It should drop to at least the $17.10 level.  Does it matter?  It depends on you.  I didn't invest in a low beta stock so I can flip it. 3-5 years is my time horizon on this one. If tomorrow it drops because of this below $10 then I will be very worried.  Below $14...Worried...$16 meh in 3-5 years it won't make a difference. Plus we get $0.21 back in

[Vega1357]

Do I win the pool? I guessed $17.00 and it opened at $16.99.

[TJPatrol1]

[TJPatrol1]

Red Trevor sure are short cash after their "top picks"