AltaGas Ltd. (TSX: ALA, ALA.PR.A, ALA.R) has completed its previously announced offering of 13,915,000 subscription receipts at a price of $29.00 per subscription receipt for aggregate gross proceeds of approximately $403 million, including the exercise in full of the underwriters’ over-allotment option.
Net proceeds will be used to fund the US $1.135 billion acquisition of Semco Holdings Corporation.
The offering was conducted through a syndicate of underwriters co-led by BMO Nesbitt Burns Inc., RBC Dominion Securities Inc. and TD Securities Inc., and including CIBC World Markets Inc., National Bank Financial Inc., Scotia Capital Inc., HSBC Securities (Canada) Inc., Macquarie Capital Markets Canada Ltd., Beacon Securities Limited, FirstEnergy Capital Corp. and Peters & Co. Limited.
