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By The Online Investor Staff, updated Mon., Apr. 12, 10:59 AM
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Secondary Stock Offerings| This Slide: #22 of 25 |
Slide #22. Emera Incorporated — Secondary Offering
Company:
Emera Incorporated (TSE:EMA.CA)
Date announced:
3/24/2021
Shares Offered:
8,000,000
Date of Pricing:
3/24/2021
Price Per Share:
$25.00
Secondary Offering Details:
Emera Incorporated ("Emera") (TSX:EMA.CA) announced today that it will issue 8,000,000 Cumulative Minimum Rate Reset First Preferred Shares, Series J (the "Series J Preferred Shares") at a price of $25.00 per share and at an initial annual dividend rate of 4.25 per cent, for aggregate gross proceeds of $200 million on a bought deal basis to a syndicate of underwriters in Canada led by Scotiabank and RBC Capital Markets. Emera has granted to the underwriters an option, exercisable at any time up to two business days prior to the closing of the offering, to purchase up to an additional 2,000,000 Series J Preferred Shares at a price of $25.00 per share (the "Underwriters' Option"). If the Underwriters' Option is exercised in full, the aggregate gross proceeds to Emera will be $250 million.
Emera is an energy and services company which invests in electricity generation, transmission and distribution and gas transmission and distribution. Co. has five reportable segments: Florida Electric Utility, which consists of Tampa Electric; Canadian Electric Utilities, which includes Nova Scotia Power Inc. and Emera Newfoundland & Labrador Holdings Inc.; Other Electric Utilities, which includes Emera Maine and Emera (Caribbean) Incorporated; Gas Utilities and Infrastructure, which includes New Mexico Gas Company, Inc. and Emera Brunswick Pipeline Company Limited; and Other, which includes Emera Energy and corporate holding and financing companies.
Preferreds: EMA.PRA.CA, EMA.PRC.CA, EMA.PRE.CA, NSI.PRD.CA
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