trending Market Intelligence /marketintelligence/en/news-insights/trending/2ilLWdRXi3AvwHUl5HNbyA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Northland Power launches C$750M secondary offering of common shares

Essential Energy Insights - May 14, 2020

Credit Risk: Identifying Early Warning Signals In The Oil And Gas Industry

Stress Testing Energy Companies in the Current Environment

Infographic Solar Power by the Numbers The US Canada and Mexico


Northland Power launches C$750M secondary offering of common shares

Northland Power Inc. on March 18 launched a secondary offering of 32,120,000 common shares at C$23.35 per share for gross proceeds to selling shareholder of about C$750.0 million.

A syndicate of underwriters led by CIBC Capital Markets agreed to purchase on a bought-deal basis those shares, which are held by Northland Power Holdings Inc. and/or other entities controlled by Northland Power Chairman Jim Temerty. The underwriters have a 30-option to purchase up to an additional 4,818,000 shares, totaling C$113 million in gross proceeds.

The offering is expected to close by April 5, subject to customary conditions.

Temerty said the offering is being made for estate planning purposes and that he will remain committed to being a long-term shareholder of the company.

Upon completion, entities controlled by Temerty will own about 14.7% of the issued and outstanding voting shares in the company. If the overallotment option is exercised in full, they will own about 12.0% of the issued and outstanding voting shares of the company.