Post by
Billybabin61 on Oct 26, 2021 5:14pm
More Dilution
I am a long time holder of AQN since below 10 bucks and have become increasingly dissapointed by their dilution. Since 2014 the number of shares almost tripled not counting this new equity financing. What is more concerning is that they do it at a time when the SP has been flat, and at 18.15 we can expect to see a big hit tomorrow with continued down trend. Not good. Fortis for example has been more frugal in the expansion of their share base over the same period of time. I hope I am wrong. This acquistion has been rumoured for some time now at least 6 months and I wish it would have been done when the SP was higher...perhaps the ask was too high so 6 of one and ......
Comment by
rustyblades on Oct 26, 2021 5:27pm
I agree with you. Doesn't look good and reminds me of Altagas's takeover of WGL. I think the high debt levels will keep AQN in the doghouse for a while similar to ALA's time in purgatory. SP might tank tomorrow but I'll be sitting on the sidelines. From my experiences with ENB and ALA, once the analysts are worried about debt levels the SP languishes for quite a while.
Comment by
apollojetic on Oct 26, 2021 5:43pm
Nice comparison to the ALA purchase. Very hauntingly similar to that deal with all the debt and taking over a big enterprise with over a million customers. This will be fun to watch. Holding back on getting involved in the new issue until I hear from some of the investment houses and experts. They may have a different positive take on this.
Comment by
Blueswin on Oct 26, 2021 6:38pm
That ALA experience was a painful ride! Continuing to buy shares all the way down to bring your overall costs down. Good management now & they have righted the ship but many of us were sea sick for quite a while! Hope AQN holders don't have to experience this.
Comment by
BSdetector2016 on Oct 26, 2021 7:05pm
It sure was. My shares are in the jettison tube waiting for the next little rally. I no longer trust them and it seems that AQN has been led down the same path.
Comment by
bmbruce on Oct 26, 2021 5:50pm
initial reaction on the NYSE... AFTER HOURS Last Updated: Oct 26, 2021 5:31 p.m. EDTDelayed quote $14.69 -0.35 -2.33% After Hours Volume: 16.52K