The Toronto Stock Exchange reports that Capital Power Corp. subscription receipts will be listed at 5:01 p.m. on Nov. 27, 2023, for trading at the open on Nov. 28, 2023. According to the TSX, the subscription receipts will trade under the symbol CPX.R, in Canadian dollars and with Cusip No. 14042M 15 1.

As stated in the prospectus supplement dated Nov. 22, 2023, to the company's short form base shelf prospectus dated June 10, 2022, the company is issuing 8,231,000 subscription receipts at $36.45 per subscription receipt in a public offering. It expects to close the offering before the open on Nov. 28, 2023. The designated market-maker is W.D. Latimer Co. Ltd., and the transfer agent and registrar is Computershare Trust Company of Canada at its principal offices in Calgary and Toronto.

The TSX reports that upon satisfaction of the escrow release condition, each subscription receipt will automatically convert into one common share of the corporation. If (i) the escrow release condition is not satisfied on or before 5 p.m. Edmonton time on April 30, 2024; (ii) both of the acquisition agreements are terminated; or (iii) the corporation advises the underwriters or announces to the public that it does not intend to proceed with both of the acquisitions (each such case being a termination event), holders of subscription receipts will be entitled to receive an amount equal to the termination payment.

According to the TSX, subscription receiptholders shall be entitled to receive payments per subscription receipt equal to the amount per share of any cash dividends for which a dividend record date has occurred during the period beginning on the closing date and ending on and including the date immediately preceding the date the shares are issued pursuant to the subscription receipts, net of applicable withholding taxes. Dividend equivalent payments will be paid on the payment date of each such dividend on the shares.

If a termination event occurs after a dividend has been declared on the shares but before the dividend record date, holders of subscription receipts will be entitled to receive, as part of the termination payment, a pro rata dividend equivalent payment in respect of such dividend declared on the shares based on the ratio of the time between: (i) the date of the prior dividend equivalent payment (or, if none, the closing date) and the occurrence of a termination event; to (ii) the date of the prior dividend equivalent payment (or, if none, the prior payment date for dividends on the shares) and the dividend payment date for the dividend so declared. If a termination event occurs on or following a dividend record date but on or prior to the payment date, holders will be entitled to receive the full dividend equivalent payment for that period.

The TSX notes that the company expects to issue the first dividend equivalent payment on Jan. 31, 2024, to subscription receiptholders of record at the close on Dec. 29, 2023. The subscription receipts will be listed and posted for trading until the earlier of the satisfaction of the escrow release condition and a termination event. The TSX will issue a further bulletin to confirm either the satisfaction of the escrow release condition and/or the delisting of the subscription receipts.