OTCPK:APCFF - Post by User
Post by
thomas35on Aug 14, 2010 6:04am
842 Views
Post# 17350775
ATP NEWS
ATP NEWSAtlantic Power Corporation (TSX: ATP)(TSX: ATP.DB)(TSX: ATP.DB.A)(NYSE: AT) (the "Company") announced today that it has filed a preliminary prospectus in Canada and a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the "SEC") with respect to an offering of convertible unsecured subordinated debentures (the "Debentures") in Canada. The size and pricing of the Debenture offering and the final terms of the Debentures will be determined following clearance of the Canadian preliminary prospectus and U.S. registration statement by the applicable securities regulatory authorities. BMO Capital Markets is acting as sole bookrunner with respect to the offering of Debentures.
The Company also announced today that it has filed a registration statement on Form S-1 with the SEC with respect to a concurrent public offering of common shares (the "Common Shares"). The size and pricing of the Common Share offering will also be determined following clearance by the applicable securities regulatory authorities. UBS Investment Bank is acting as sole book-running manager for the offering of Common Shares.
Proceeds from these offerings will be used by the Company for (i) repayment of approximately US$20 million borrowed under its revolving credit facility in June 2010 to partially fund our previously-announced acquisition of a 27.6% equity interest in Idaho Wind Partners 1, LLC, and (ii) to fund a likely investment of up to US$75 million in the Piedmont Green Power biomass project in Barnesville, Georgia for substantially all of the equity interest in the project, which is currently in advanced discussions. Any remaining net proceeds will be used to fund additional growth opportunities and for general corporate purposes