<SEC-DOCUMENT>0001279569-22-000914.txt : 20220531
<SEC-HEADER>0001279569-22-000914.hdr.sgml : 20220531
<ACCEPTANCE-DATETIME>20220531164017
ACCESSION NUMBER:		0001279569-22-000914
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20220531
FILED AS OF DATE:		20220531
DATE AS OF CHANGE:		20220531

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TRANSALTA CORP
		CENTRAL INDEX KEY:			0001144800
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15214
		FILM NUMBER:		22984029

	BUSINESS ADDRESS:	
		STREET 1:		110 12TH AVE SW BOX 1900 STATION M
		STREET 2:		CALGARY ALBERTA T2P 2MI
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2P2M1
		BUSINESS PHONE:		403-267-4724

	MAIL ADDRESS:	
		STREET 1:		110-12TH AVENUE SW
		CITY:			CALGARY ALBERTA CANADA
		STATE:			A0
		ZIP:			T2P2M1
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<TYPE>6-K
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<FILENAME>transalta6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 10pt 0 0; text-align: center">UNITED STATES</P>

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><FONT STYLE="font-size: 14pt">SECURITIES
AND EXCHANGE COMMISSION<BR>
</FONT><FONT STYLE="font-size: 12pt">WASHINGTON, D.C. 20549 </FONT></P>

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 10pt 0 6pt; text-align: center">FORM 6-K</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center">REPORT OF FOREIGN PRIVATE ISSUER<BR>
PURSUANT TO RULE&nbsp;13a-16 OR 15d-16<BR>
UNDER THE SECURITIES EXCHANGE ACT OF 1934</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center"><B>For the month of May, 2022<BR>
Commission File Number 001-15214</B></P>

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 10pt 0 6pt; text-align: center"><FONT STYLE="font-size: 20pt">TRANSALTA
CORPORATION<BR>
</FONT><FONT STYLE="font-size: 10pt; font-weight: normal">(Translation of registrant's name into English)</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center"><B>110-12th Avenue S.W., Box 1900, Station &ldquo;M&rdquo;,
Calgary, Alberta, Canada, T2P 2M1</B><BR>
(Address of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center"><FONT STYLE="font-weight: normal">Form&nbsp;20-F&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Form&nbsp;40-F&nbsp;<FONT STYLE="font-family: Wingdings">&#254;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation&nbsp;S-T Rule&nbsp;101(b)(1). _____</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation&nbsp;S-T Rule&nbsp;101(b)(7). _____</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: left">Signatures</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 24pt 0 0 3in"><B>TRANSALTA CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 24pt 0 0 3in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 50%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 13%">By:</TD>
    <TD STYLE="width: 87%; border-bottom: Black 1pt solid">/s/ Todd Stack</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name: Todd Stack</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title: Chief Financial Officer</TD></TR>
  </TABLE><BR STYLE="clear: both">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0">Date: May 31, 2022</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center">EXHIBIT INDEX</P>

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    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 81%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 1pt solid"><B>Description of Document</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><A HREF="ex991.htm">99.1</A></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><A HREF="ex991.htm">&ldquo;TransAlta Corporation Provides Notice of Series C Preferred Shares Conversion
Right and Announces Reset Dividend Rates&rdquo;</A></TD></TR>
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<TYPE>EX-99.1
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<FILENAME>ex991.htm
<DESCRIPTION>NEWS RELEASE DATED MAY 31, 2022
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<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Exhibit 99.1</B></FONT></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 24pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">TransAlta Corporation Provides Notice of Series
C Preferred Shares Conversion Right and Announces Reset Dividend Rates</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">CALGARY, AL, May 31, 2022 /CNW/ - TransAlta Corporation
(&quot;TransAlta&quot; or the &quot;Company&quot;) (TSX: TA) (NYSE: TAC) announced today that it does not intend to exercise its right
to redeem all or any part of the currently outstanding cumulative redeemable rate reset first preferred shares Series C (&quot;Series
C Shares&quot;) (TSX: TA.PR.F) on June 30, 2022 (the &quot;Conversion Date&quot;).</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">As a result and subject to certain conditions set
out in the prospectus supplement dated November 23, 2011 relating to the issuance of the Series C Shares, the holders of the Series C
Shares will have the right to convert all or any of their Series C Shares into cumulative redeemable floating rate first preferred shares
Series D of the Company (&quot;Series D Shares&quot;) on the basis of one Series D Share for each Series C Share on the Conversion Date.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">With respect to any Series C Shares that remain outstanding
after June 30, 2022, holders thereof will be entitled to receive quarterly fixed cumulative preferential cash dividends, if, as and when
declared by the Board of Directors of TransAlta.&nbsp; The annual dividend rate for the Series C Shares for the five-year period from
and including June 30, 2022 to but excluding June 30, 2027, will be 5.85400%, being equal to the five-year Government of Canada bond yield
of 2.75400% determined as of today plus 3.10000%, in accordance with the terms of the Series C Shares.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">With respect to any Series D Shares that may be issued
on June 30, 2022, holders thereof will be entitled to receive quarterly floating rate cumulative preferential cash dividends, if, as and
when declared by the Board of Directors of TransAlta. The annual dividend rate for the 3-month floating rate period from and including
June 30, 2022 to but excluding September 30, 2022 will be 4.57700%, being equal to the annual rate for the most recent auction of 90-day
Government of Canada Treasury Bills of 1.47700% plus 3.10000%, in accordance with the terms of the Series D Shares (the &quot;Floating
Quarterly Dividend Rate&quot;).&nbsp; The Floating Quarterly Dividend Rate will be reset every quarter.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">As provided in the terms of the Series C Shares, if
TransAlta determines after reviewing all Series C Shares tendered for conversion into Series D Shares that: (i) there would remain outstanding
on June 30, 2022, less than 1,000,000 Series C Shares, all remaining Series C Shares shall be converted automatically into Series D Shares
on a one-for one basis effective June 30, 2022; or (ii)&nbsp; there would remain outstanding after June 30, 2022, less than 1,000,000
Series D Shares, the holders of Series C Shares shall not be entitled to convert their shares into Series D Shares effective June 30,
2022.&nbsp; There are currently 11,000,000 Series C Shares outstanding.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">The Series C Shares are issued in &quot;book entry
only&quot; form and must be purchased or transferred through a participant in the CDS depository service (&quot;CDS Participant&quot;).
All rights of holders of Series C Shares must be exercised through CDS or the CDS Participant through which the Series C Shares are held.
The deadline for the registered shareholder to provide notice of exercise of the right to convert Series C Shares into Series D Shares
is 3:00 p.m. (MST) / 5:00 p.m. (EST) on June 15, 2022.&nbsp; Any notices received after this deadline will not be valid. As such, holders
of Series C Shares who wish to exercise their right to convert their shares should contact their broker or other intermediary for more
information and it is recommended that this be done well in advance of the deadline in order to provide the broker or other intermediary
with time to complete the necessary steps.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">If TransAlta does not receive an election notice from
a holder of Series C Shares during the time fixed therefor, then the Series C Shares shall be deemed not to have been converted (except
in the case of an automatic conversion). Holders of the Series C Shares and the Series D Shares will have the opportunity to convert their
shares again on June 30, 2027, and every five years thereafter as long as the shares remain outstanding.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">The Toronto Stock Exchange (TSX) has conditionally
approved the listing of the Series D Shares effective upon conversion.&nbsp; Listing of the Series D Shares is subject to TransAlta fulfilling
all the listing requirements of the TSX.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B><I>About TransAlta Corporation:<BR>
</I></B><I>TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and
Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and
utility customers with clean, affordable, energy-efficient and reliable power. Today, TransAlta is one of Canada's largest producers of
wind power and Alberta's largest producer of hydroelectric power. For over 100 years, TransAlta has been a responsible operator and a
proud community-member where its employees work and live. TransAlta aligns its corporate goals with the <U>UN Sustainable Development
Goals</U>.</I></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><I>For more information about TransAlta, visit our
web site at <U>transalta.com</U>.</I></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B><I>Cautionary Statement Regarding Forward-looking
Information:<BR>
</I></B><I>This news release contains certain information that is forward-looking and is subject to important risks and uncertainties
(such statements are usually accompanied by words such as &quot;may&quot;, &quot;will&quot;, &quot;should&quot;, &quot;estimate&quot;,
&quot;intend&quot; or other similar words). Specifically, this news release contains forward-looking information with respect to the Company,
the Series C Shares and the Series D Shares, including but not limited to future conversions, redemptions and dividends. All forward-looking
information reflect the Company's beliefs and assumptions based on information available at the time the statements were made and as such
are not guarantees of future performance. Readers are cautioned not to place undue reliance on this forward-looking information, which
is given as of the date it is expressed in this press release. TransAlta undertakes no obligation to update or revise any forward-looking
information except as required by law. For additional information on the assumptions made, and the risks and uncertainties which could
cause actual results to differ from those in the forward-looking information, refer to the Company's Annual Report and Management's Discussion
and Analysis, and the risks set out in the prospectus supplement dated November 23, 2011 relating to the issuance of the Series C Shares,
filed under the Company's profile on SEDAR at www.sedar.com&nbsp; and with the U.S. Securities and Exchange Commission at www.sec.gov.</I></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">View original content:https://www.prnewswire.com/news-releases/transalta-corporation-provides-notice-of-series-c-preferred-shares-conversion-right-and-announces-reset-dividend-rates-301558285.html</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">SOURCE TransAlta Corporation</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">View original content: http://www.newswire.ca/en/releases/archive/May2022/31/c3907.html</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">%CIK: 0001144800</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0"><B>For further information: </B>Investor Inquiries: Phone: 1-800-387-3598
in Canada and U.S., Email: investor_relations@transalta.com; Media Inquiries: |Phone: 1-855-255-9184, Email: ta_media_relations@transalta.com</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">CO: TransAlta Corporation</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">CNW 16:00e 31-MAY-22</P>

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&nbsp;</B></FONT></P>

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