Alterra PowerCorp. upsized its equity financings to C$63 million from , according to acompany statement.
Alterra Power will now sell 5,834,000 common shares at C$6apiece for gross proceeds of about C$35.0 million. The shares will sold on abought-deal basis to a syndicate of underwriters, co-led by National BankFinancial Inc. and Raymond James Ltd.
The underwriters have an option to purchase up to anadditional 875,100 shares for about C$5.3 million.
Alterra Power also upsized its non-brokered privateplacement to 4,667,000 shares at the same price for gross proceeds of aboutC$28.0 million.
The company plans to use the net proceeds to fundpre-construction and development activities for more than 850 MW of early stagewind projects, to repay outstanding debt and for general corporate purposes.