On November 14, 2023, Emera Incorporated announced the launch of an at-the-market (ATM) equity offering to distribute common shares with an aggregate value of up to CAD 600 million. The offering was facilitated under a distribution agreement with Scotia Capital Inc., RBC Dominion Securities Inc., CIBC World Markets Inc., and TD Securities Inc. as agents. The closing date for the offering was November 14, 2023.

The shares were sold through the Toronto Stock Exchange (TSX) at prevailing market prices, with the proceeds designated for general corporate purposes, including the potential reduction of indebtedness to affiliates of the agents. Agents received a commission of up to 2% of the gross sales price. Emera retains flexibility to terminate the agreement at any time, with the offering scheduled to conclude by November 4, 2025, or upon reaching the maximum distribution limit.

Osler, Hoskin & Harcourt LLP provided legal counsel to Emera, while Stikeman Elliott LLP advised the agents. Emera’s common shares trade on the TSX under the symbol "EMA."

This offering supports Emera’s strategy to enhance liquidity and strengthen its capital position. Investors were cautioned about potential risks, including price volatility and share dilution.