Welcome to our dedicated page for AT news (Ticker: AT), a resource for investors and traders seeking the latest updates and insights on AT stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect AT's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of AT's position in the market.
Atlantic Power recently completed a consent solicitation for its 5.95% Medium Term Notes, securing over 90% approval from noteholders, surpassing the required two-thirds threshold. This follows a previously announced arrangement agreement for acquiring Atlantic Power's shares and debt by Tidal Power Holdings and related entities. Key meetings for convertible debentureholders and common/preferred shareholders are scheduled for April 7, 2021, to discuss amendments and the proposed transaction. Additionally, certain regulatory approvals have already been obtained, supporting the transaction's progression.
Atlantic Power Corporation (NYSE: AT) announced that the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act has expired regarding its acquisition by I Squared Capital. This marks a key step towards completing the transaction where I Squared Capital will acquire Atlantic Power's shares and debentures for cash. The deal requires approval from securityholders and other regulatory bodies. Atlantic Power's operations encompass power generation assets in the U.S. and Canada, primarily selling under long-term contracts.
Atlantic Power Corporation (NYSE: AT) reported strong financial results for Q4 2020, achieving a net income of $34.2 million, compared to a loss of $65.3 million in Q4 2019, driven by a $10.2 million insurance gain and a favorable tax benefit. Project revenue increased to $71.7 million, aided by the Cadillac plant's recovery and improved operations at Williams Lake. However, cash from operating activities fell to $35.2 million from $40.2 million, mainly due to changes in working capital. The company is set for acquisition by I Squared Capital for approximately $961 million, with a closing anticipated in Q2 2021.
Atlantic Power Corporation (NYSE: AT) announced the mailing of the Circular and Proxy Statement for special meetings of common and preferred shareholders to be held virtually on April 7, 2021. The meetings aim to approve a plan to acquire all common shares for US$3.03 each and preferred shares for Cdn$22.00 each. The special committee and boards of both Atlantic Power and APPEL recommend shareholders approve the transaction, asserting it is in their best interests. The company has engaged Kingsdale Advisors for assistance regarding the approval process.
Atlantic Power Corporation announced a dividend rate of 4.27% for its Cumulative Floating Rate Preferred Shares, Series 3 (AZP.PR.C) for the quarter ending June 30, 2021. This rate was determined based on the Canadian Government 90-day Treasury Bill yield plus an additional 4.18%. The dividend will only be payable if declared by the board of directors. The corporation designates this dividend as an 'eligible dividend' for Canadian tax purposes, which may qualify for reduced rates for U.S. taxpayers as well. Investors should consult tax professionals for advice.
Atlantic Power Corporation announced quarterly dividends for its preferred shares: Cdn$0.303125 for Series 1, Cdn$0.358688 for Series 2, and Cdn$0.267807 for Series 3. These dividends will be paid on March 31, 2021, to shareholders of record as of March 15, 2021. The dividends qualify as "eligible dividends" for tax purposes in Canada, and U.S. investors may benefit from reduced tax rates on qualified dividends, subject to conditions. Atlantic Power, an independent power producer, operates across multiple states and provinces, focusing on long-term power purchase agreements.
Atlantic Power Corporation (NYSE: AT) has initiated a consent solicitation for amendments to its trust indenture regarding 5.95% Medium Term Notes due June 23, 2036. The process aims for consents from noteholders by March 16, 2021, linked to a transaction where Tidal Power will acquire all common shares for US$3.03 each. If consented, APLP will redeem the Notes at 106.071% of the principal plus accrued interest. A support agreement has been signed by a fund manager representing about 66% of noteholders. Additionally, a meeting for Debentureholders is scheduled for March 18, 2021.
Atlantic Power Corporation (NYSE: AT) will release its financial results for the year and quarter ending December 31, 2020, on March 4, 2021, post-market. A conference call for analysts and investors will follow on March 5 at 8:30 AM ET, led by the management team. Key details including access numbers are provided for participation. The company, operating across the U.S. and Canada, aims to minimize commodity price exposure through long-term contracts and diverse generation projects. For more information, visit www.atlanticpower.com.
Atlantic Power Corporation (NYSE: AT) has announced a definitive agreement with I Squared Capital for an acquisition valued at approximately US$961 million. Common shareholders will receive US$3.03 per share, reflecting a 48% premium to the 30-day average price. Convertible debentures and preferred shares will also be converted or redeemed at significant premiums. The transaction has been unanimously approved by Atlantic Power's board and is expected to close in the second quarter of 2021, subject to various approvals. This move aims to provide immediate cash value to shareholders.
Atlantic Power Corporation and Atlantic Power Preferred Equity Ltd announced the renewal of their normal course issuer bids (NCIB) for buying back public securities. The NCIBs, effective December 31, 2020, will include purchases of common shares and various preferred shares. The firms believe current trading prices do not reflect the true value of these securities. Under the NCIBs, Atlantic Power can buy up to 10% of its public float for common shares and 5% for convertible debentures. The NCIBs will conclude by December 30, 2021.
