Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Northland Power Inc (Ontario) T.NPI

Alternate Symbol(s):  NPIFF | T.NPI.PR.A | T.NPI.PR.B | NPICF

Northland Power Inc. is a Canada-based global power producer focused on helping the clean energy transition by producing electricity from clean renewable resources. The Company owns and manages a diversified generation mix, including onshore renewables, natural gas energy, as well as supplying energy through a regulated utility. Its facilities produce electricity from clean-burning natural gas and renewable resources such as wind and solar. The Company’s segments include offshore wind facilities, onshore renewable facilities, natural gas facilities, and utilities. The Company’s natural gas facilities use turbines to produce electricity. It owns or has an economic interest in approximately 3.4 GW (net 2.9 GW) of operating capacity. The Company also has an inventory of projects in construction and in various stages of development encompassing approximately 12 GW of potential capacity. It operates power infrastructure assets in Asia, Europe, Latin America, and North America.


TSX:NPI - Post by User

Post by kijijion Sep 18, 2019 10:10am
75 Views
Post# 30139470

CLOSING OF SUBSCRIPTION RECEIPT OFFERING

CLOSING OF SUBSCRIPTION RECEIPT OFFERING
NORTHLAND POWER ANNOUNCES CLOSING OF SUBSCRIPTION RECEIPT OFFERING
 
Northland Power Inc. has closed its previously announced bought deal offering of subscription receipts. A total of 14,289,000 Subscription Receipts, including 1,299,000 Subscription Receipts issued pursuant to the exercise in full by the Underwriters of their over-allotment option, were sold at an offering price of $24.25 per Subscription Receipt (the "Offering Price") for aggregate gross proceeds of $346,508,250.
 
The Subscription Receipts will commence trading today on the Toronto Stock Exchange under the symbol NPI.R.
 
The net proceeds from the Offering will be held in escrow and are intended to directly or indirectly, fund a portion of Northland's previously announced acquisition of a 99.2% interest in the Colombian regulated utility Empresa de Energia de Boyaca (the "Acquisition").
 
Each Subscription Receipt will entitle the holder to receive one common share of Northland upon closing of the Acquisition. For further information regarding the Offering and the Acquisition, including related risk factors, refer to the Prospectus Supplement that Northland filed on SEDAR on September 11, 2019.
 
The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This news release does not constitute an offer to sell or the solicitation of any offer to buy, nor will there be any sale of these securities, in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction.
Bullboard Posts