SAN FRANCISCO, Oct. 23, 2017 /PRNewswire/ -- Pattern Energy
Group Inc. (the "Company" or "Pattern Energy") (NASDAQ: PEGI) (TSX:
PEGI) today announced that it has closed the previously announced
underwritten public offering of 9,200,000 shares, or approximately
US$215.3 million, of its Class A
common stock at a public offering price of US$23.40 per share, inclusive of shares purchased
by the underwriters pursuant to the exercise, in full, of the
underwriters' option to purchase an additional 1,200,000 shares of
Class A common stock granted by the Company to cover
over-allotments.
The Company intends to use the net proceeds from the offering
for general corporate purposes, which may include: funding
acquisitions, including from third parties or drop downs of Mont
Sainte-Marguerite, El Cabo, Belle
River, Otsuki Wind, Futtsu Solar, Kanagi Solar, Ohorayama
and Tsugaru from the identified ROFO list included in the Company's
Quarterly Report on Form 10-Q for the fiscal quarter ended
June 30, 2017; funding investments,
including any capital call requests from Pattern Energy Group 2 LP;
or depending on the timing, sequencing and significance of any
potential acquisitions from the identified ROFO list, the repayment
of indebtedness.
The offering was made through an underwriting group led by
Morgan Stanley and BofA Merrill Lynch, as book-running managers of
the offering and the representatives of the underwriters.
The offering of securities to which this communication
relates was made in the United
States pursuant to an effective shelf registration statement
(including a prospectus) filed with the Securities and Exchange
Commission (the "SEC") and, in Canada, pursuant to a supplement to the
Company's MJDS shelf prospectus filed with Canadian securities
regulatory authorities. You can get copies of these
documents for free by visiting EDGAR on the SEC website at
www.sec.gov and SEDAR at www.sedar.com.
Alternatively, copies of these documents may be obtained from the
underwriters as follows:
Morgan Stanley &
Co. LLC
|
Merrill Lynch, Pierce,
Fenner & Smith
|
180 Varick Street,
2nd Floor
|
|
Incorporated
|
New York, New York
10014
|
200 North College
Street, 3rd Floor
|
Attention: Prospectus
Department
|
NC1-004-03-43
|
Email: prospectus@morganstanley.com
|
Charlotte NC
28255-0001
|
|
Attention: Prospectus
Department
|
|
Email:
dg.prospectus_requests@baml.com
|
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Pattern Energy
Pattern Energy is an independent power company focused on owning
and operating power projects with stable long-term cash flows in
attractive markets with potential for continued growth of our
business. Pattern Energy holds interests in 20 wind power projects,
including the Mont Sainte-Marguerite wind power project it has
committed to acquire, with a total owned interest of 2,736 MW in
the United States, Canada and Chile that use proven and best-in-class
technology. Pattern Energy's wind power facilities generate stable,
long-term cash flows in attractive markets and provide a solid
foundation for the continued growth of the business.
Cautionary Statement Concerning Forward-Looking
Statements
Certain statements contained in this press release constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 and "forward-looking
information" within the meaning of Canadian securities laws,
including statements regarding the proposed use of proceeds. These
forward-looking statements represent the Company's expectations or
beliefs concerning future events, and it is possible that the
results described in this press release will not be achieved. These
forward-looking statements are subject to risks, uncertainties and
other factors, many of which are outside of the Company's control,
which could cause actual results to differ materially from the
results discussed in the forward-looking statements.
Any forward-looking statement speaks only as of the date on
which it is made, and, except as required by law, the Company does
not undertake any obligation to update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise. New factors emerge from time to time,
and it is not possible for the Company to predict all such factors.
When considering these forward-looking statements, you should keep
in mind the risk factors and other cautionary statements contained
or incorporated by reference in the prospectus supplement filed
with the SEC or the supplement to the Company's MJDS shelf
prospectus filed with Canadian securities regulatory authorities,
the Company's Annual Report on Form 10-K for the year ended
December 31, 2016 and the Company's
Quarterly Reports on Form 10-Q for the quarters ended March 31, 2017 and June
30, 2017. The risk factors and other factors noted in these
documents could cause actual events or the Company's actual results
to differ materially from those contained in any forward-looking
statement.
FOR FURTHER INFORMATION PLEASE CONTACT:
Media Relations
Matt
Dallas
(917) 363-1333
matt.dallas@patternenergy.com
Investor Relations
Ross Marshall
(416) 526-1563
ross.marshall@loderockadvisors.com
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SOURCE Pattern Energy Group Inc.