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AltaGas Ltd Announces Closing Of $405 Million Common Share Offering


Thursday, 4 Apr 2013 08:48am EDT 

AltaGas Ltd announced that it has closed previously announced public offering of 11,615,000 common shares at a price of $34.90 per common share for aggregate gross proceeds of approximately $405 million. The aggregate offering is comprised of the previously announced offering of 10,100,000 shares at $34.90 per share for gross proceeds of approximately $352 million, together with the underwriters exercising the over-allotment option for the sale of an additional 1,515,000 shares at $34.90 per share for additional gross proceeds of approximately $53 million. The Offering was first announced on March 25, 2013 when AltaGas entered into an agreement with a syndicate of underwriters co-led by TD Securities Inc. and RBC Capital Markets. Net proceeds will be used, in part, to fund the acquisition of the Blythe Energy Centre, as well as for general corporate purposes and to support future growth initiatives, including those related to AltaGas' energy export business conducted through AltaGas Idemitsu Joint Venture Limited Partnership. 

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