OAKVILLE, ON, Dec. 19,
2023 /PRNewswire/ - Further to the press
releases of Algonquin Power & Utilities Corp. ("AQN" or the
"Company") (TSX: AQN) (NYSE: AQN) dated November 22, 2023 and December 4, 2023, the Company announced today
that none of its outstanding 4,800,000 Cumulative Rate Reset
Preferred Shares, Series A (the "Series A Preferred Shares") will
be converted on January 2, 2024 into
Cumulative Floating Rate Preferred Shares, Series B (the "Series B
Preferred Shares") of the Company.
During the conversion notice period which ran from December 4, 2023 to December 18, 2023, less than 1,000,000 Series A
Preferred Shares were tendered for conversion into Series B
Preferred Shares. As a result, and consistent with the terms and
conditions of the Series A Preferred Shares, no Series B Preferred
Shares will be issued and holders of Series A Preferred Shares who
tendered their Series A Preferred Shares for conversion will not be
entitled to convert their Series A Preferred Shares into Series B
Preferred Shares.
About Algonquin Power &
Utilities Corp.
Algonquin Power & Utilities Corp., parent company of
Liberty, is a diversified international generation, transmission,
and distribution utility with approximately $18 billion of total assets. AQN is committed to
providing safe, secure, reliable, cost-effective, and sustainable
energy and water solutions through its portfolio of generation,
transmission, and distribution utility investments to over one
million customer connections, largely in the United States and Canada. In addition, AQN owns, operates,
and/or has net interests in over 4 GW of installed renewable energy
capacity.
AQN's common shares, preferred shares, Series A, and preferred
shares, Series D are listed on the Toronto Stock Exchange under the
symbols AQN, AQN.PR.A, and AQN.PR.D, respectively. AQN's common
shares, Series 2019-A subordinated notes and equity units are
listed on the New York Stock Exchange under the symbols AQN, AQNB,
and AQNU, respectively.
Visit AQN at www.algonquinpower.com and follow us on
Twitter @AQN_Utilities.
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SOURCE Algonquin Power & Utilities Corp.