Emera Renews At-The-Market Equity Program
Business Wire - 42 minutes ago
Emera Incorporated ("Emera" or the "Company") (TSX:EMA.TO) announced today that it has renewed its at-the-market equity program (the "ATM Program") that allows the Company to issue up to C$600,000,000 (or its U.S. dollar equivalent) of common shares (the "Common Shares") from treasury to the public from time to time, at the Company's discretion. Any Common Shares sold in the ATM Program will be sold through the Toronto Stock Exchange (the "TSX") or any other marketplace on which the Common Shares are listed, quoted or otherwise traded (collectively, the "Marketplaces") at the prevailing market price at the time of sale.
The ATM Program continues to provide Emera with additional financing flexibility should it be required in the future. The volume and timing of distributions under the ATM Program, if any, will be determined at the Company's sole discretion. The ATM Program will be effective until September 5, 2023 unless terminated prior to such date by the Company or otherwise in accordance with the terms of the equity distribution agreement dated August 12, 2021 (the "Equity Distribution Agreement") between the Company and the Agents (as defined below). Emera intends to use the net proceeds from the ATM Program, if any, for general corporate purposes. As Common Shares sold in the ATM Program will be distributed at prevailing market price at the time of the sale, prices may vary among purchasers during the period of the distribution.
Distributions of the Common Shares through the ATM Program will be made pursuant to the terms of the Equity Distribution Agreement among Emera and Scotia Capital Inc., RBC Dominion Securities Inc., CIBC World Markets Inc. and TD Securities Inc. (collectively, the "Agents").
The ATM Program is being renewed pursuant to a prospectus supplement dated August 12, 2021 (the "Prospectus Supplement") to the Company's short form base shelf prospectus dated August 5, 2021 (the "Shelf Prospectus"). The Prospectus Supplement and the Shelf Prospectus are available on SEDAR at www.sedar.com. The Agents will send copies of the Prospectus Supplement and the Shelf Prospectus via requests made to any of the following individuals:
Scotia Capital Inc., attn: Equity Capital Markets, Scotia Plaza, 64th Floor, 40 King Street West, Toronto, ON M5H 3Y2, by email at equityprospectus@scotiabank.com or by phone at 416.862.5837
RBC Dominion Securities Inc., 180 Wellington Street West, 8th Floor, Toronto, ON M5J 0C2, attn.: Distribution Centre, by email at Distribution.RBCDS@rbccm.com, or by phone at 416.842.5349
CIBC World Markets Inc., attn: Equity Capital Markets, 161 Bay Street, 5th Floor, Toronto, ON M5J 2S8, by email at Mailbox.CanadianProspectus@cibc.com or by phone at (416) 594-7339
TD Securities Inc., attn: Symcor, NPM, 1625 Tech Avenue, Mississauga, Ontario, L4W 5P5 by email at sdcconfirms@td.com, or by phone at 289.360.2009
This media release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer, solicitation or sale of the securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful.