The Offering was announced on December 14, 2022 when Keyera entered into an agreement with RBC Dominion Securities Inc., acting on behalf of a syndicate of underwriters (collectively, the “Underwriters”). Under the Offering, Keyera issued an aggregate of 8,130,500 Common Shares, including 1,060,500 Common Shares as a result of the exercise in full by the Underwriters of their over-allotment option. The Common Shares were issued at an offering price of $28.30 per Common Share for total gross proceeds to the Company of $230,093,150.
Keyera intends to use the proceeds from this Offering, directly or indirectly, together with other financing sources and cash on hand, to fund its previously announced acquisition of an additional 21% working interest in the Keyera Fort Saskatchewan (“KFS”) complex from Plains Midstream Canada.
No securities regulatory authority has either approved or disapproved the contents of this press release. The Common Shares have not been, and will not be, registered under the U.S. Securities Act of 1933 (the “U.S. Securities Act”), or any state securities laws. Accordingly, the Common Shares may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Keyera Corp. (TSX:KEY) operates an integrated Canadian-based energy infrastructure business with extensive interconnected assets and depth of expertise in delivering energy solutions. Its predominantly fee-for-service based business consists of natural gas gathering and processing; natural gas liquids processing, transportation, storage and marketing; iso-octane production and sales; and an industry-leading condensate system in the Edmonton/Fort Saskatchewan area of Alberta. Keyera strives to provide high quality, value-added services to its customers across North America and is committed to conducting its business ethically, safely and in an environmentally and financially responsible manner.