Algonquin Power & Utilities (TSE:AQN) has released an update.
Algonquin Power & Utilities Corp. has set the settlement rate for its June 2021 Corporate Units, with each unit converting into 3.3439 common shares at an effective price of $14.9526 per share on June 17, 2024. Holders are poised to receive a final quarterly cash distribution of $0.96875 per unit and will fund the conversion using proceeds from the recent remarketing of senior notes. Additionally, Algonquin is set to delist the Corporate Units from the NYSE and will issue approximately 76.9 million common shares to raise $1.15 billion.
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