<SEC-DOCUMENT>0001140361-19-018318.txt : 20191011
<SEC-HEADER>0001140361-19-018318.hdr.sgml : 20191011
<ACCEPTANCE-DATETIME>20191010213033
ACCESSION NUMBER:		0001140361-19-018318
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20191011
DATE AS OF CHANGE:		20191010

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALGONQUIN POWER & UTILITIES CORP.
		CENTRAL INDEX KEY:			0001174169
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-227245
		FILM NUMBER:		191146949

	BUSINESS ADDRESS:	
		STREET 1:		354 DAVIS ROAD
		CITY:			OAKVILLE
		STATE:			A6
		ZIP:			L6J2X1
		BUSINESS PHONE:		0000000000

	MAIL ADDRESS:	
		STREET 1:		354 DAVIS ROAD
		CITY:			OAKVILLE
		STATE:			A6
		ZIP:			L6J2X1

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALGONQUIN POWER INCOME FUND
		DATE OF NAME CHANGE:	20020523

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALGONQUIN POWER & UTILITIES CORP.
		CENTRAL INDEX KEY:			0001174169
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		354 DAVIS ROAD
		CITY:			OAKVILLE
		STATE:			A6
		ZIP:			L6J2X1
		BUSINESS PHONE:		0000000000

	MAIL ADDRESS:	
		STREET 1:		354 DAVIS ROAD
		CITY:			OAKVILLE
		STATE:			A6
		ZIP:			L6J2X1

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALGONQUIN POWER INCOME FUND
		DATE OF NAME CHANGE:	20020523
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>nt10005125x3_fwp.htm
<DESCRIPTION>FWP
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge Financial Solutions, Inc.
         Document created using EDGARfilings PROfile 6.4.0.0
         Copyright 1995 - 2019 Broadridge -->
  </head>
<body style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;" bgcolor="#ffffff">
  <div>
    <div style="text-align: right; font-weight: bold;">FREE WRITING PROSPECTUS</div>
    <div style="text-align: right; font-weight: bold;">Filed Pursuant to Rule 433</div>
    <div style="text-align: right; font-weight: bold;">Registration No. 333-227245</div>
    <div style="text-align: right; font-weight: bold;">October 10, 2019</div>
    <div><br>
    </div>
    <div style="font-style: italic;">A final base shelf prospectus dated September 18, 2018 (the &#8220;final base shelf prospectus&#8221;) containing important information relating to
      the securities described in this document has been filed with the securities regulatory authorities in each of the provinces of Canada.</div>
    <div><br>
    </div>
    <div style="font-style: italic;">Copies of the final base shelf prospectus, and any applicable shelf prospectus supplement, may be obtained from Morgan Stanley &amp; Co.
      LLC, Attention: Morgan Stanley Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014 and from Wells Fargo Securities at the following address: Wells Fargo Securities Canada, Ltd., Attention: Ryan Cheung, 22 Adelaide St. W.,
      Suite 2200, Toronto, ON M5H 4E3.</div>
    <div><br>
    </div>
    <div style="font-style: italic;">This document does not provide full disclosure of all material facts relating to the securities offered. Investors should read the final
      base shelf prospectus, any amendment and any applicable shelf prospectus supplement for disclosure of those facts, especially risk factors relating to the securities offered, before making an investment decision.</div>
    <div><br>
    </div>
    <div style="font-style: italic;">The issuer has filed a registration statement (including a short form base shelf prospectus) and a preliminary prospectus supplement with
      the United States Securities and Exchange Commission (&#8220;SEC&#8221;) for the offering to which this communication relates. Before you invest, you should read the short form base shelf prospectus in that registration statement, the preliminary prospectus
      supplement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the issuer,
      any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Morgan Stanley &amp; Co. LLC toll free at 1-877-777-8895 or Wells Fargo Securities Canada, Ltd. at 1-800-326-5897.</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">ALGONQUIN POWER &amp; UTILITIES CORP.</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">Common Shares</div>
    <div> <br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z2fdb29dd233648d5bf9a1899a8738a9e" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 27%; vertical-align: top;">
            <div style="text-align: justify;">Issuer:</div>
          </td>
          <td style="width: 73%; vertical-align: top;">
            <div style="text-align: justify;">Algonquin Power &amp; Utilities Corp. (the &#8220;<font style="font-weight: bold;">Company</font>&#8221;)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27%; vertical-align: top;">&#160;</td>
          <td style="width: 73%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 27%; vertical-align: top;">
            <div style="text-align: justify;">Issue:</div>
          </td>
          <td style="width: 73%; vertical-align: top;">
            <div style="text-align: justify;">23,000,000 common shares (the &#8220;<font style="font-weight: bold;">Common Shares</font>&#8221;)</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27%; vertical-align: top;">&#160;</td>
          <td style="width: 73%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 27%; vertical-align: top;">
            <div style="text-align: justify;">Issue Price:</div>
            <div>&#160;</div>
          </td>
          <td style="width: 73%; vertical-align: top;">
            <div style="text-align: justify;">US$13.50 per Common Share</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27%; vertical-align: top;">&#160;</td>
          <td style="width: 73%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 27%; vertical-align: top;">
            <div style="text-align: justify;">Gross Proceeds:</div>
            <div>&#160;</div>
          </td>
          <td style="width: 73%; vertical-align: top;">
            <div style="text-align: justify;">US$310,500,000 (US$357,075,000 if the Over-Allotment Option is exercised in full)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27%; vertical-align: top;">&#160;</td>
          <td style="width: 73%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 27%; vertical-align: top;">
            <div style="text-align: justify;">Over-Allotment Option:</div>
          </td>
          <td style="width: 73%; vertical-align: top;">
            <div style="text-align: justify;">The underwriters shall have the option, exercisable in whole or in part from time to time for a period of 30 days after the date of the final
              prospectus supplement, to purchase up to an additional 3,450,000 Common Shares</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27%; vertical-align: top;">&#160;</td>
          <td style="width: 73%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 27%; vertical-align: top;">
            <div style="text-align: justify;">Use of Proceeds:</div>
          </td>
          <td style="width: 73%; vertical-align: top;">
            <div style="text-align: justify;">To partially finance previously-announced acquisitions and to partially finance the Company's renewable development growth projects and for general
              corporate purposes</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27%; vertical-align: top;">&#160;</td>
          <td style="width: 73%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 27%; vertical-align: top;">
            <div style="text-align: justify;">Underwriting Basis:</div>
          </td>
          <td style="width: 73%; vertical-align: top;">
            <div style="text-align: justify;">Firm commitment</div>
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 27%; vertical-align: top;">
            <div style="text-align: justify;">Listing:</div>
          </td>
          <td style="width: 73%; vertical-align: top;">
            <div style="text-align: justify;">The Company has applied to list the Common Shares on the TSX and the NYSE. The TSX has conditionally approved the listing of the Common Shares.
              Listing will be subject to the Company fulfilling all of the listing conditions of such exchanges.</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27%; vertical-align: top;">&#160;</td>
          <td style="width: 73%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 27%; vertical-align: top;">
            <div style="text-align: justify;">Eligibility:</div>
          </td>
          <td style="width: 73%; vertical-align: top;">
            <div style="text-align: justify;">The Common Shares are expected to be eligible for investment in RRSPs, RRIFs, RESPs, RDSPs, deferred profit sharing plans and TFSAs</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27%; vertical-align: top;">&#160;</td>
          <td style="width: 73%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 27%; vertical-align: top;">
            <div style="text-align: justify;">Commission:</div>
          </td>
          <td style="width: 73%; vertical-align: top;">
            <div style="text-align: justify;">3.90%, payable upon Closing</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27%; vertical-align: top;">&#160;</td>
          <td style="width: 73%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 27%; vertical-align: top;">
            <div style="text-align: justify;">Closing:</div>
            <div>&#160;</div>
          </td>
          <td style="width: 73%; vertical-align: top;">
            <div style="text-align: justify;">On or about October 16, 2019</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27%; vertical-align: top;">&#160;</td>
          <td style="width: 73%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 27%; vertical-align: top;">
            <div style="text-align: justify;">Lead Book-running Managers:</div>
            <div>&#160;</div>
          </td>
          <td style="width: 73%; vertical-align: top;">
            <div style="text-align: justify;">Morgan Stanley and Wells Fargo Securities</div>
            <div>&#160;</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27%; vertical-align: top;">&#160;</td>
          <td style="width: 73%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 27%; vertical-align: top;">
            <div style="text-align: justify;">Book-running Managers:</div>
            <div>&#160;</div>
          </td>
          <td style="width: 73%; vertical-align: top;">
            <div style="text-align: justify;">BofA Securities, Inc. and J.P. Morgan</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27%; vertical-align: top;">&#160;</td>
          <td style="width: 73%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 27%; vertical-align: top;">
            <div style="text-align: justify;">Co-managers:</div>
          </td>
          <td style="width: 73%; vertical-align: top;">
            <div style="text-align: justify;">RBC Capital Markets, CIBC Capital Markets, Raymond James, Scotiabank and TD Securities Inc.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify;">Not for retail investors in the EEA. No PRIIPs key information document (KID) has been prepared as not available to retail in EEA.</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">Any disclaimer or other notice that may appear below is not applicable to this communication and should be disregarded. Such disclaimer or
      notice was automatically generated as a result of this communication being sent by Bloomberg or another email system.</div>
    <div>
      <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
