Pattern Energy raised $270 million from a share issue to repay debt and fund acquisitions, hitting the top end of expectations after the underwriters decided to up their intake of shares.
Earlier this month, the US wind developer said it planned to raise $239 million by issuing 10 million shares in the company at $23.90 each.
But it gave underwriters led by RBC Capital Markets, BMO Capital Markets and Morgan Stanley the option to buy up to 1.5 million additional shares to cover any over-allotments, potentially taking the total haul up to US$275 million.
The underwriters bought an extra 1.3 million shares, Pattern said in a statement Monday.
Pattern has a portfolio of 17 wind power facilities in the US, Canada and Chile with a total owned interest of 2,554MW.
Photo: Pattern Energy
