Algonquin Power & Utilities’ $250 Million At?the?Market Program


Cravath represented the sales agents, RBC Capital Markets, J.P. Morgan Securities, Bank of America Merrill Lynch, Scotiabank and TD Securities, in connection with the establishment of an at?the?market program with respect to common shares totaling up to $250 million.

Through its subsidiaries, Algonquin Power & Utilities Corp. owns and operates a portfolio of regulated and non-regulated generation, distribution and transmission utility assets in Canada and the United States. The shares will be listed on the Toronto Stock Exchange and New York Stock Exchange. The initial closing occurred on February 28, 2019.

Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada and the United States. It generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

The Cravath team included partner Andrew J. Pitts (Picture) and associates Amber Lam and Ashley R. Strojny on securities matters, and associate Andrew T. Davis on tax matters.

Involved fees earner: Andrew Davis – Cravath Swaine & Moore; Amber Lam – Cravath Swaine & Moore; Andrew Pitts – Cravath Swaine & Moore; Ashley Strojny – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: Bank of America Merrill Lynch; J.P. Morgan Securities LLC; RBC Capital Markets; Scotiabank; TD Securities;

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Author: Ambrogio Visconti