RE:Hit 52 week highThis was better timing
Enbridge Announces CDN$4.0 Billion Bought-Deal Offering of Common Shares
September 5, 2023
CALGARY, AB, Sept. 5, 2023 /CNW/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) ("Enbridge" or the "Company") today announced that it has entered into an agreement with a syndicate of underwriters led by RBC Capital Markets and Morgan Stanley, and including BMO Capital Markets, CIBC Capital Markets, National Bank Financial Markets, Scotiabank, and TD Securities (the "Underwriters") under which the Underwriters have agreed to purchase, on a bought deal basis, 89,490,000 common shares of the Company ("Common Shares") for aggregate gross proceeds of CDN$4 billion at an offering price of CDN$44.70 per Common Share (the "Offering").
Enbridge intends to use the net proceeds from the Offering to finance a portion of the cash consideration payable by it for the purchase of local distribution company gas utilities in the United States from Dominion Energy, Inc., the details of which were announced today in a separate news release issued by Enbridge (the "Acquisitions").s better timing