HALIFAX, Nova Scotia--(EON: Enhanced Online News)--Emera Incorporated ("Emera") (TSX:EMA) announces today that, in connection with its recently completed bought deal offering of 6,630,000 common shares (the “Common Shares”) at $45.25 per Common Share (the “Offering Price”), the over-allotment option granted to the underwriters to purchase up to an additional 994,500 Common Shares (the "Over-Allotment Option") at the Offering Price was exercised in full for additional aggregate gross proceeds to Emera of approximately $45 million. The sale of the additional Common Shares today pursuant to the Over-Allotment Option brings the aggregate gross proceeds to Emera from the bought deal offering, including the Over-Allotment Option (collectively, the "Offering"), to approximately $345 million.
The syndicate of underwriters was led by TD Securities Inc., CIBC Capital Markets, RBC Capital Markets and Scotiabank, and also included BMO Capital Markets, National Bank Financial Inc., Barclays Capital Canada Inc., Credit Suisse Securities (Canada) Inc., J.P. Morgan Securities Canada Inc., Industrial Alliance Securities Inc. and Raymond James Ltd. The net proceeds of the Offering will be used for general corporate purposes.
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 within the meaning of applicable securities laws. By its nature, forward-looking information requires Emera to make assumptions and is subject to inherent risks and uncertainties. These statements reflect Emera management’s current beliefs and are based on information currently available to Emera management. There is a 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. Additional detailed information about these assumptions, risks and uncertainties is included in Emera’s securities regulatory filings, including under the heading “Business Risks and Risk Management” in Emera’s annual Management’s Discussion and Analysis, and under the heading “Principal Risks and Uncertainties” in the notes to Emera’s annual and interim financial statements, which can be found on SEDAR at www.sedar.com.
About Emera Inc.
Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia with approximately $28 billion in assets and 2015 pro-forma revenues of $6.3 billion. The company invests in electricity generation, transmission and distribution, gas transmission and distribution, and utility energy services with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments throughout North America, and in four Caribbean countries. Emera continues to target having 75-85% of its adjusted earnings come from rate-regulated businesses. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, and EMA.PR.F. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR. Additional Information can be accessed at www.emera.com or at www.sedar.com.