Algonquin Power & Utilities Corp. Announces Results of Exercise of Conversion Rights of Cumulative Rate Reset Preferred Shares, Series A

Canada NewsWire

OAKVILLE, ON , Dec. 19, 2023 /CNW/ - 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.

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.

SOURCE Algonquin Power & Utilities Corp.

View original content: http://www.newswire.ca/en/releases/archive/December2023/19/c7570.html