NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES.
HALIFAX, Nova Scotia--(BUSINESS WIRE)--
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161221005434/en/
Emera Inc.
Mark Kane, 813-228-1772
Vice President, Investor
Relations
mark.kane@emera.com
or
Neera
Ritcey, 902-428-6059
Manager, Investor Relations
neera.ritcey@emera.com
Source: Emera Inc.