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FINWIRES

TransAlta Closes $350 Million Bought Deal Offering of Common Shares

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TransAlta (TA.TO) has closed its previously announced bought deal offering of common shares, said the company on Tuesday.

The company issued a total of 18.23 million common shares at a price of $19.20 each for total gross proceeds of approximately $350 million, pursuant to the offering.

The underwriters also have an option to purchase up to an additional of around 2.73 million common shares at the offering price, exercisable for a period of 30 days following the closing of the offering, for potential additional gross proceeds to TransAlta of approximately around $52.5 million.

The company plans to use the net proceeds to fund the cash purchase price of its previously announced acquisition of two new natural gas-fired peaking facilities totaling 318 MW near Denver, Colorado.

The acquisition is expected to close early in the fourth quarter of 2026, subject to the satisfaction of certain closing conditions.

"If the Acquisition is not completed, the Company intends to use the net proceeds from the Offering to finance future growth opportunities including acquisitions, finance its capital development expenditures, reduce its outstanding indebtedness or for other general corporate purposes," added the company.

The company's shares were last seen down $0.05 at $17.42 on the Toronto Stock Exchange.

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