Emera Announces Bought Deal Offering of 14.6 Million Common Shares
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
HALIFAX, Nova Scotia, December 6, 2017: Emera Incorporated (“Emera”) (TSX:EMA) announced today that it has entered into an agreement with a syndicate to be led by RBC Capital Markets, CIBC Capital Markets, Scotiabank and TD Securities Inc., as joint bookrunners, under which they have agreed to purchase from Emera and sell to the public 14,614,000 Common Shares of Emera. The underwriters will also have the option to purchase up to an additional 1,045,000 Common Shares to cover over-allotments, if any, and for market stabilization purposes, during the 30 days following the closing of the offering (the “Over-Allotment Option”).
The purchase price of $47.90 per Common Share will result in gross proceeds to Emera of $700,010,600 ($750,066,100 if the Over-Allotment Option is exercised in full). The net proceeds of the offering will be used to support the Company’s recently announced growth initiatives and general corporate purposes.
The offering is subject to the receipt of all necessary regulatory and stock exchange approvals. Closing is expected to occur on or about December 28, 2017.
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.
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 2016 revenues of more than $4 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 achieving a minimum of 75% of its adjusted net income 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.
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Vice President, Investor Relations & Treasurer