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Emera earns C$345M from common stock offering

Emera Inc. received C$345 million in gross proceeds from its bought-deal offering of 6,630,000 common shares, after underwriters fully exercised their overallotment option.

Underwriters purchased an additional 994,500 shares at C$45.25 apiece, or approximately C$45 million in total.

Emera plans to use the net proceeds from the offering for general corporate purposes, according to a Dec. 21 news release.

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.