An anonymous director reports

ALGONQUIN POWER & UTILITIES CORP. ANNOUNCES CLOSING OF EQUITY FINANCING

Algonquin Power & Utilities Corp. has closed the previously reported equity offering pursuant to which it issued and sold approximately 37.5 million common shares of the company at a price of $11.85 per share to certain institutional investors, for gross proceeds of approximately $445-million. The shares were offered and sold directly to the institutional investors by the company without an underwriter or placement agent.

The proceeds of the offering are expected to be used, in the short term, to pay down existing indebtedness, and subsequently, in part, to finance the closing of the company's recently announced acquisition of an additional approximately 16.5-per-cent equity interest in Atlantica Yield PLC, from an entity related to Seville-based Abengoa SA. The additional acquisition is expected to close in the second or third quarter of 2018, subject to certain governmental approvals and other closing conditions. No shareholder approvals are required.

About Algonquin Power & Utilities Corp.

The company is a diversified generation, transmission and distribution utility with $10-billion of total assets. Through its two business groups, the company provides rate-regulated natural gas, water and electricity generation, transmission, and distribution utility services to over 750,000 customers in the United States, and is committed to being a global leader in the generation of clean energy through its portfolio of long-term contracted wind, solar and hydroelectric generating facilities representing more than 1,500 megawatts of installed capacity. The company delivers continuing growth through an expanding pipeline of renewable energy development projects, organic growth within its rate regulated generation, distribution and transmission businesses, and the pursuit of accretive acquisitions.

We seek Safe Harbor.