• Sustainable Power & Infrastructure Split (PWI) announces proceeds from an overnight offering
  • The offering is expected to close on or about August 17 and is subject to certain closing conditions
  • Sustainable Power has granted the agents an over-allotment option, exercisable for 30 days following the closing date of the offering
  • The class A shares were offered for $8.95 per share for a distribution rate of 8.9 per cent on the issue price
  • While at the same time, the preferred shares were offered at $10.00 per for a yield to maturity of 5.2 per cent
  • Sustainable Power & Infrastructure Split (PWI) is down under 5 per cent, trading at C$8.78 at 2:54 pm EST

Sustainable Power & Infrastructure Split (PWI) anticipates approximately $9.7 million in proceeds from an overnight offering.

The offering is expected to close on or about August 17 and is subject to certain closing conditions.

Sustainable Power has granted the agents an over-allotment option, exercisable for 30 days following the closing date of the offering, to purchase up to an additional 15 per cent of the number of class A shares and preferred shares issued at the closing of the offering.

The class A shares were offered for $8.95 per share for a distribution rate of 8.9 per cent on the issue price.

While at the same time, the preferred shares were offered at $10.00 per for a yield to maturity of 5.2 per cent.

The offering prices were made to be non-dilutive to the most recently calculated net asset value per unit of the company as adjusted for dividends.

The company invests in a globally diversified and actively managed portfolio consisting primarily of dividend-paying securities of power and infrastructure companies.

To qualify for inclusion in the Portfolio, issuers must have a market capitalization of at least CDN$2.0 billion.

The manager expects that at least 15 sustainable power and infrastructure companies will comprise the Portfolio.

Sustainable Power & Infrastructure Split (PWI) is down under 5 per cent, trading at C$8.78 at 2:54 pm EST.


More From The Market Online

Activist investor seeks to overhaul WonderFi board

KAOS Capital, an activist investor and major WonderFi (TSX:WNDR) shareholder, plans to propose five nominations to the crypto stock's board.

Neptune Digital Assets finds value in soaring crypto market

Neptune Digital Assets (TSXV:NDA) closes a value investment in Solana cryptocurrency at a 64 per cent discount to the current market price.
- Investor, Eric Sprott

Eric Sprott decreases exposure to attractive gold and PGM stock

Mining tycoon Eric Sprott allowed 12.5 million Benton Resources (TSXV:BEX) share purchase warrants to expire unexercised.

RevoluGROUP stock dips despite new strategic agreements

RevoluGROUP (TSXV:REVO) stock fell in early trading, despite adding two agreements to its string of positive news flow since changing CEOs.