Capital Power Announces Closing of $667 Million Offering of Common Shares

Core Viewpoint - Capital Power Corporation has successfully completed a bought deal offering of 11,902,500 common shares at an offering price of $43.45 per share, raising approximately $517 million in total gross proceeds [1][2]. Group 1: Public Offering Details - The public offering was initially announced on April 14, 2025, and the size was increased on April 15, 2025 [2]. - The offering included 1,552,500 common shares from the full exercise of the over-allotment option [1]. Group 2: Private Placement - Concurrently, the company issued 3,455,000 common shares to Alberta Investment Management Corporation through a private placement, generating approximately $150 million [3]. - TD Securities Inc. acted as the sole agent and bookrunner for the private placement [3]. Group 3: Use of Proceeds - The net proceeds from the offerings will primarily fund the acquisition of Hummel Station, LLC and Rolling Hills Generating, L.L.C., which own significant natural gas facilities in Pennsylvania and Ohio, respectively [4]. - The acquisition is expected to close in the third quarter of 2025, pending regulatory approvals [4]. Group 4: Future Plans - If the acquisition does not complete, the company plans to use the net proceeds for future growth opportunities, capital development expenditures, debt reduction, or other general corporate purposes [5].