TransAlta Corporation Closes Cdn $275 Million Sale of Common Shares
September 13 2012 - 8:47AM
Marketwired
TransAlta Corporation (TransAlta) (TSX:TA) (NYSE:TAC) announced
today it has completed its public offering of 19,250,000 Common
Shares at a price of $14.30 per Common Share. TransAlta has granted
the underwriters an over-allotment option to purchase up to an
additional 2,887,500 Common Shares at the same price, exercisable
in whole or in part at any time for 30 days following today's
closing of the offering. The over-allotment option will be used to
cover over-allocations, if any.
The offering, previously announced on September 4, 2012,
resulted in gross proceeds to TransAlta of approximately Cdn $275
million. The net proceeds from the offering will be used to fund
future growth capital expenditures, including to partially fund the
previously announced acquisition of the Solomon power station if
completed, repay short term indebtedness, and for general corporate
purposes.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy the Common Shares in any
jurisdiction. The Common Shares offered have not been and will not
be registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold within the United States
absent registration under the U.S. Securities Act or an applicable
exemption from such registration requirements. The Common Shares
were offered within the United States only to qualified
institutional buyers and outside the United States in compliance
with Regulation S under the U.S. Securities Act.
About TransAlta Corporation
TransAlta is a power generation and wholesale marketing company
focused on creating long-term shareholder value. TransAlta
maintains a low-to-moderate risk profile by operating a highly
contracted portfolio of assets in Canada, the United States and
Australia. TransAlta's focus is to efficiently operate our
geothermal, wind, hydro, natural gas and coal facilities in order
to provide our customers with a reliable, low-cost source of power.
For 100 years, TransAlta has been a responsible operator and a
proud contributor to the communities where we work and live.
TransAlta is recognized for its leadership on sustainability by the
Dow Jones Sustainability North America Index, the FTSE4Good Index
and the Jantzi Social Index. TransAlta is Canada's largest
investor-owned renewable energy provider.
This news release may contain forward looking statements,
including statements regarding the business and anticipated
financial performance of TransAlta Corporation and the anticipated
use of the proceeds of the offering. These statements are based on
TransAlta Corporation's belief and assumptions based on information
available at the time the assumption was made. These statements are
subject to a number of risks and uncertainties that may cause
actual results to differ materially from those contemplated by the
forward-looking statements. Some of the factors that could cause
such differences include, pricing in the market place, our
inability to enter into long term contracts due to prevailing
market conditions, legislative or regulatory developments,
competition, global capital markets activity, changes in interest
rates, currency exchange rates, inflation levels and general
economic conditions in geographic areas where TransAlta Corporation
operates.
Note: All financial figures are in Canadian dollars unless noted
otherwise.
Contacts: TransAlta Corporation - Investor Inquiries Jess
Nieukerk Director, Investor Relations 1
800-387-3598investor_relations@transalta.com TransAlta Corporation
- Media Inquiries TransAlta Media Relations 1 403-267-3999
www.transalta.com
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