<SEC-DOCUMENT>0001140361-21-035525.txt : 20211027
<SEC-HEADER>0001140361-21-035525.hdr.sgml : 20211027
<ACCEPTANCE-DATETIME>20211026215946
ACCESSION NUMBER:		0001140361-21-035525
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20211027
DATE AS OF CHANGE:		20211026

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:	333-260501
		FILM NUMBER:		211350505

	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>ny20001090x6_fwp.htm
<DESCRIPTION>FWP
<TEXT>
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      <div style="text-align: right; font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: bold; font-variant: normal;">FREE WRITING PROSPECTUS</div>
      <div style="text-align: right; font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: bold; font-variant: normal;">Filed Pursuant to Rule 433</div>
      <div style="text-align: right; font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: bold; font-variant: normal;">Registration No. 333-260501</div>
      <div style="text-align: right; font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: bold; font-variant: normal;">October 26, 2021</div>
    </div>
    <div style="text-align: center; font-size: 14pt; font-variant: small-caps; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; font-size: 14pt; font-variant: small-caps; font-weight: bold;">Algonquin Power &amp; Utilities Corp.</div>
    <div style="text-align: center; font-style: italic; font-variant: small-caps; font-weight: bold;">Bought Deal Treasury Offering of Common Shares</div>
    <div style="text-align: center; font-variant: small-caps; font-weight: bold;">Term Sheet</div>
    <div>
      <hr style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;" align="center"></div>
    <div style="text-align: justify; font-size: 8pt; font-style: italic; font-variant: small-caps;">AN AMENDED AND RESTATED PRELIMINARY SHORT FORM PROSPECTUS CONTAINING IMPORTANT INFORMATION RELATING TO THE SECURITIES DESCRIBED IN THIS DOCUMENT HAS NOT YET
      BEEN FILED WITH THE SECURITIES REGULATORY AUTHORITIES IN EACH OF THE PROVINCES OF CANADA. A COPY OF THE AMENDED AND RESTATED PRELIMINARY SHORT FORM PROSPECTUS IS REQUIRED TO BE DELIVERED TO ANY INVESTOR THAT RECEIVED THIS DOCUMENT AND EXPRESSED AN
      INTEREST IN ACQUIRING THE SECURITIES. THERE WILL NOT BE ANY SALE OR ANY ACCEPTANCE OF AN OFFER TO BUY THE SECURITIES UNTIL A RECEIPT FOR THE FINAL SHORT FORM PROSPECTUS HAS BEEN ISSUED. THIS DOCUMENT DOES NOT PROVIDE FULL DISCLOSURE OF ALL MATERIAL
      FACTS RELATING TO THE SECURITIES OFFERED. INVESTORS SHOULD READ THE AMENDED AND RESTATED PRELIMINARY SHORT FORM PROSPECTUS, THE FINAL SHORT FORM PROSPECTUS AND ANY AMENDMENT FOR DISCLOSURE OF THOSE FACTS, ESPECIALLY RISK FACTORS RELATING TO THE
      SECURITIES OFFERED, BEFORE MAKING AN INVESTMENT DECISION.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-size: 8pt; font-style: italic; font-variant: small-caps;">THE COMPANY HAS FILED A REGISTRATION STATEMENT (INCLUDING A PRELIMINARY SHORT FORM PROSPECTUS) WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION (THE &#8220;SEC&#8221;)
      FOR THE OFFERING TO WHICH THIS COMMUNICATION RELATES. THE SECURITIES DESCRIBED IN THIS DOCUMENT MAY NOT BE SOLD NOR MAY OFFERS TO BUY BE ACCEPTED PRIOR TO THE TIME THE REGISTRATION STATEMENT BECOMES EFFECTIVE. BEFORE READERS INVEST, THEY SHOULD READ
      THE PROSPECTUS IN THAT REGISTRATION STATEMENT AND OTHER DOCUMENTS THE COMPANY HAS FILED WITH THE SEC FOR MORE COMPLETE INFORMATION ABOUT THE COMPANY AND THE OFFERING. THE COMPANY HAS ALSO FILED A PRELIMINARY SHORT FORM PROSPECTUS RELATING TO THE
      OFFERING WITH EACH OF THE PROVINCIAL SECURITIES REGULATORY AUTHORITIES IN CANADA. POTENTIAL INVESTORS MAY GET ANY OF THESE DOCUMENTS FOR FREE BY VISITING EDGAR ON THE SEC WEBSITE AT WWW.SEC.GOV OR VIA SEDAR AT WWW.SEDAR.COM. COPIES OF SUCH DOCUMENTS
      MAY ALSO BE OBTAINED FROM CIBC CAPITAL MARKETS, 181 BAY STREET, 5<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">TH</sup> FLOOR, TORONTO, ON M5J 2S8, BY TELEPHONE AT 1-416-956-6378 OR BY EMAIL AT
      MAILBOX.CANADIANPROSPECTUS@CIBC.COM; OR SCOTIA CAPITAL INC., ATTENTION: EQUITY CAPITAL MARKETS, SCOTIA PLAZA, 62<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">ND</sup> FLOOR, 40 KING STREET WEST, TORONTO, ONTARIO M5H 3Y2,
      OR BY TELEPHONE AT 1-416-863-7704 AND IN THE UNITED STATES FROM SCOTIA CAPITAL (USA) INC., ATTENTION: EQUITY CAPITAL MARKETS, 250 VESEY STREET, 24<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">TH</sup> FLOOR, NEW YORK, NEW
      YORK, 10281, OR BY TELEPHONE AT 1-212-225-6853 OR BY EMAIL AT EQUITYPROSPECTUS@SCOTIABANK.COM.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-size: 8pt; font-style: italic; font-variant: small-caps;">THIS COMMUNICATION DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION TO ANY PERSON TO WHOM IT
      IS UNLAWFUL TO MAKE SUCH OFFER OR SOLICITATION IN SUCH JURISDICTION.</div>
    <div><br>
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            <div style="font-weight: bold;">Issuer:</div>
          </td>
          <td style="width: 85%; vertical-align: top;">
            <div style="text-align: justify;">Algonquin Power &amp; Utilities Corp. (&#8220;Algonquin&#8221; or the &#8220;Company&#8221;).</div>
          </td>
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            <div style="font-weight: bold;">Offering:</div>
          </td>
          <td style="width: 85%; vertical-align: top;">
            <div style="text-align: justify;">Treasury offering of 44,080,000 common shares (the &#8220;Common Shares&#8221;) of the Company, before giving effect to the Over-Allotment Option (as defined below).</div>
          </td>
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            <div style="font-weight: bold;">Offering Size:</div>
          </td>
          <td style="width: 85%; vertical-align: top;">
            <div style="text-align: justify;">C$800,052,000 before giving effect to any exercise of the Over-Allotment Option.</div>
          </td>
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            <div style="font-weight: bold;">Offering Price:</div>
          </td>
          <td style="width: 85%; vertical-align: top;">
            <div style="text-align: justify;">C$18.15 per Common Share.</div>
          </td>
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            <div style="font-weight: bold;">Over-Allotment Option:</div>
          </td>
          <td style="width: 85%; vertical-align: top;">
            <div style="text-align: justify;">The Company has granted the underwriters an option to purchase up to an additional 6,612,000 Common Shares to cover over-allotments, if any, such option to be exercised in whole or in part at the sole
              discretion of the underwriters, at any time until 30 days after the Closing Date.</div>
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            <div style="font-weight: bold;">Use of Proceeds:</div>
          </td>
          <td style="width: 85%; vertical-align: top;">
            <div style="text-align: justify;">The net proceeds of the Offering are expected to be used (a) to partially finance the acquisition of Kentucky Power Company and AEP Kentucky Transmission Company, Inc., and related expenses, which acquisition
              is expected to close in mid-2022 and, (b) in the short-term, prior to the closing of the acquisition, reduce amounts outstanding under existing credit facilities of the Company and its subsidiaries.</div>
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            <div style="font-weight: bold;">Dividends:</div>
          </td>
          <td style="width: 85%; vertical-align: top;">
            <div style="text-align: justify;">The first cash dividend which purchasers of the Common Shares may be entitled to receive is the dividend expected to be paid on or about January 14, 2022 to holders of record on or about December 31, 2021 if
              declared by the board of directors of the Company in their discretion.</div>
            <div>The Company most recently declared and paid a quarterly dividend of US$0.1706 per Common Share on October 15, 2021 to holders of record on September 30, 2021.</div>
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            <div style="font-weight: bold;">Listing:</div>
          </td>
          <td style="width: 85%; vertical-align: top;">
            <div style="text-align: justify;">The Common Shares are listed on the TSX and the NYSE under the symbol &#8220;AQN&#8221;.</div>
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            <div style="font-weight: bold;">Eligibility:</div>
          </td>
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            <div style="text-align: justify;">Eligible for RRSPs, RRIFs, DPSPs, RDSPs, TFSAs and RESPs, subject to customary qualifications.</div>
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            <div style="font-weight: bold;">Offering Procedure:</div>
          </td>
          <td style="width: 85%; vertical-align: top;">
            <div style="text-align: justify;">Public offering in all provinces of Canada by way of short form prospectus, in the United States pursuant to a registration statement under the Multi-Jurisdictional Disclosure System, and internationally as
              permitted. A copy of the short form prospectus will be available on www.sedar.com.</div>
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            <div style="font-weight: bold;">Underwriting Basis:</div>
          </td>
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            <div style="text-align: justify;">Bought deal, subject to a mutually acceptable underwriting agreement containing &#8220;disaster out&#8221;, &#8220;regulatory out&#8221; and &#8220;material adverse change out&#8221; clauses running to Closing.</div>
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            <div style="font-weight: bold;">Bookrunners:</div>
          </td>
          <td style="width: 85%; vertical-align: top;">
            <div style="text-align: justify;">CIBC Capital Markets and Scotiabank.</div>
          </td>
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            <div style="font-weight: bold;">Closing Date:</div>
          </td>
          <td style="width: 85%; vertical-align: top;">
            <div style="text-align: justify;">On or about November 8, 2021.</div>
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            <div style="font-weight: bold;">Underwriting Fee:</div>
          </td>
          <td style="width: 85%; vertical-align: top;">
            <div>4.00% of the gross proceeds of the Offering.</div>
          </td>
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</SEC-DOCUMENT>
