Fortis Inc. ("Fortis" or the "Corporation") (TSX:FTS)(NYSE:FTS) announced today that it has entered into an agreement with an institutional investor in the United States to issue and sell 12,195,122 common shares of Fortis (the "Shares") at a price of C$41.00 per share, for gross proceeds of approximately C$500,000,000 (the "Offering").
The Shares were offered and are being sold directly to the institutional investor by Fortis without an underwriter or placement agent. The net proceeds of
RelSci News & Alerts gets you:
- 10 free articles a month from top subscription outlets like the Financial Times, New York Times, and Washington Post
- Competitive business intelligence through daily data updates
- Custom feeds on target high-value individuals, companies, industries, and topics delivered straight to your inbox