RE:RE:ENB announces a $2.75 billion equity "at the market" raiseBest guess is that a BMO led group has already agreed to a bought deal. My guess is 3% below the close so maybe $49 per share. If it doesn't get announced right away, it will be in the best interests of the dealers to drive the price down and then announce a bought deal at an even lower price.
The "at the market" announcement saves time and money for legals as companies just do batch raise announcements on a "figure it out later" basis.