Brompton Energy Split (ESP.TO) said Wednesday it is undertaking a treasury offering of Class A shares and preferred shares.
The Class A shares are being offered at $7.95 per share and the preferred shares at $10.25 per share. The sales period is expected to end on Thursday and the offering is set to close on or about May 22, subject to Toronto Stock Exchange approval and other customary closing conditions, the company said.
The Class A shares aim to provide holders with regular monthly non-cumulative cash distributions and the opportunity for growth in net asset value per share. The key goal for the preferred shares is to provide fixed quarterly cash distributions of $0.18125 per share, the company added.
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