Emera Incorporated ("Emera") (TSX:EMA) announces today that it has
completed its bought deal offering of 8,665,000 common shares (the
“Common Shares”), which includes the exercise in full of the
over-allotment option of 865,000 Common Shares, at $28.85 per Common
Share for aggregate gross proceeds to Emera of approximately $250
million (the “Offering”). The syndicate of underwriters was led by
Scotiabank, CIBC, RBC Capital Markets and TD Securities Inc. and also
included BMO Capital Markets, National Bank Financial Inc., Barclays
Capital Canada Inc., Canaccord Genuity Corp. and Credit Suisse
Securities (Canada) Inc.
The net proceeds of the offering will be used for general corporate
purposes to support the Company’s recently announced growth initiatives
and to reduce indebtedness outstanding under Emera’s credit facility.
The Common Shares have not been registered under the U.S. Securities
Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirements. 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.
Forward Looking Information
This news release contains forward-looking information with respect to
Emera. By its nature, forward-looking information requires Emera to make
assumptions and is subject to inherent risks and uncertainties. There is
significant risk that predictions, forecasts, conclusions and
projections that constitute forward-looking information will not prove
to be accurate, that Emera’s assumptions may not be correct and that
actual results may differ materially from such forward-looking
information. Detailed information about these assumptions, risks and
uncertainties is included in Emera’s securities regulatory filings,
which can be found on SEDAR at www.sedar.com.
About Emera
Emera is an energy and services company with $8.1 billion in assets and
2012 revenues of $2.1 billion. The company invests in electricity
generation, transmission and distribution, as well as gas transmission
and utility energy services. Emera's strategy is focused on the
transformation of the electricity industry to cleaner generation and the
delivery of that clean energy to market. Emera has investments
throughout Northeastern North America, and in four Caribbean countries.
More than 80% of the company's earnings come from regulated investments.
Emera common and preferred shares are listed on the Toronto Stock
Exchange and trade respectively under the symbol EMA, EMA.PR.A.,
EMA.PR.C., and EMA.PR.E. Additional information can be accessed at www.emera.com
or at www.sedar.com.
Copyright Business Wire 2014