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The base shelf prospectus is accessible, and the prospectus supplement will be accessible, within two business days on SEDAR+
CALGARY, AB, June 17, 2026 /CNW/ - Keyera Corp. ("Keyera" or the "Company") (TSX: KEY) today announced that it has entered into an agreement with a syndicate of underwriters (the "Underwriters") led by RBC Capital Markets and TD Securities Inc., as joint bookrunners under which the Underwriters have agreed to purchase, on a bought deal basis, 9,804,000 common shares of the Company ("Common Shares") at a price of $53.55 per Common Share for aggregate gross proceeds of approximately $525 million (the "Offering").
The net proceeds from the Offering will be used to partially repay indebtedness drawn under a short-term credit facility used to fund the acquisition by Keyera of a non-operated 50% interest in the KAPS pipeline from Stonepeak Partners LP, resulting in Keyera owning the entire interest in KAPS, the details of which were announced today in a separate news release issued by Keyera (the "Acquisition").
The Company has granted the Underwriters an over-allotment option, exercisable in whole or in part at any time and from time to time for a period of 30 days following the closing of the Offering, to purchase up to an additional 1,470,600 Common Shares on the same terms and conditions as the Offering.
The Offering is expected to close on or about June 22, 2026, subject to certain conditions including receipt of all regulatory approvals, including approval of the Toronto Stock Exchange.
The Common Shares will be offered to prospective purchasers in all provinces of Canada by way of a prospectus supplement to the base shelf prospectus of the Company dated December 22, 2025. The Common Shares may also be offered in the United States by way of private placement to "qualified institutional buyers" in reliance upon the exemption from registration provided by Rule 144A under the U.S. Securities Act of 1933 (the "U.S. Securities Act"), and internationally pursuant to applicable private placement exemptions.
No securities regulatory authority has either approved or disapproved the contents of this press release. The Common Shares have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws. Accordingly, the Common Shares may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. 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 the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Access to the prospectus supplement, the base shelf prospectus and any amendments to the documents is provided in accordance with securities legislation relating to procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment. The base shelf prospectus is, and the prospectus supplement will be (within two business days of the date hereof), accessible on SEDAR+ at www.sedarplus.ca. The Common Shares are offered under the prospectus supplement. An electronic or paper copy of the prospectus supplement, the base shelf prospectus and any amendment to the documents may be obtained, without charge, from RBC Capital Markets, Attention: Distribution Centre, RBC Wellington Square, 8th Floor, 180 Wellington Street West, Toronto, ON M5J 0C2 or by email at distribution.rbcds@rbccm.com by providing the contact with an email address or address, as applicable. The base shelf prospectus and prospectus supplement contain important, detailed information about the Company and the Offering. Prospective investors should read the base shelf prospectus and prospectus supplement (when filed) before making an investment decision.
About Keyera Corp.
Keyera Corp. (TSX:KEY) operates an integrated Canadian-based energy infrastructure business with extensive interconnected assets and depth of expertise in delivering energy solutions. Its predominantly fee-for-service based business consists of natural gas gathering and processing; natural gas liquids processing, transportation, storage and marketing; iso-octane production and sales; and an industry-leading condensate system in the Edmonton/Fort Saskatchewan area of Alberta. Keyera strives to provide high quality, value-added services to its customers across North America and is committed to conducting its business ethically, safely and in an environmentally and financially responsible manner.
Additional Information
For more information about Keyera Corp., please visit our website at www.keyera.com or contact:
Investor Inquiries
Dan Cuthbertson, General Manager, Investor Relations
Tyler Monzingo, Senior Specialist, Investor Relations
Email: ir@keyera.com
Telephone: 1-403-205-7670
Toll free: 1-888-699-4853
Media Inquiries
Brandon Wood, Director, External Affairs
Email: media@keyera.com
Telephone: 1-855-797-0036
Forward-Looking Information
Certain statements contained herein constitute "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"). Such forward-looking statements are intended to provide readers with information regarding Keyera, including the expected closing date of the Offering, the intended use of proceeds of the Offering and the size and geographical scope of the Offering and completion and timing thereof. The forward-looking statements contained herein may not be appropriate for other purposes. These forward-looking statements relate to future events or Keyera's future performance. Such statements are predictions only and actual events or results may differ materially. Forward-looking statements are typically identified by words such as "expect", "may", "will", "intend", "subject", "strive", "commit" and similar expressions, including the negatives thereof. All statements other than statements of historical fact contained in this document are forward-looking statements.
The forward-looking statements reflect management's current beliefs and assumptions with respect to such things as the completion of the Offering in a timely manner, including receipt of all necessary approvals, the success of Keyera's operations, general and industry economic trends remaining in line with management's current expectations, favorable commodity prices and market conditions, future operating costs and predictability in the governmental, regulatory, and legal environments in which Keyera operates. In some instances, forward-looking statements contained herein may be attributed to third party sources. Management believes that its assumptions herein are reasonable and that the expectations reflected in the forward-looking statements contained herein are also reasonable based on the information available on the date such statements were made, and the process used to prepare the information. However, Keyera cannot assure readers that these expectations will prove to be correct.
All forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events, levels of activity and achievements to differ materially from those anticipated in the forward-looking statements. For information about the risk factors that could cause actual results to differ materially from forward-looking statements, as well as other assumptions used to develop the forward-looking statements, please refer to Keyera's filings made with Canadian provincial securities commissions, including Keyera's 2025 Year-End Report dated February 12, 2026, Keyera's Management's Discussion and Analysis for the year ended December 31, 2025, Keyera's Management's Discussion and Analysis for the three months ended March 31, 2026 and in Keyera's Annual Information Form, dated March 2, 2026 which can be viewed on SEDAR+ at www.sedarplus.ca and on Keyera's website at www.Keyera.com.
Readers are cautioned that the foregoing is not exhaustive, that they should not unduly rely on these forward-looking statements and that the forward-looking statements in this news release speak only as of the date hereof. Unless required by law, Keyera does not intend to and does not assume any obligation to update its forward-looking statements. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Further information about the factors affecting forward-looking statements and management's assumptions and analysis thereof is available in filings made by Keyera with Canadian provincial securities commissions, which can be viewed on SEDAR+ at www.sedarplus.ca.
SOURCE Keyera Corp.
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