SAN FRANCISCO, CALIFORNIA, April 25, 2014 – Pattern Energy Group Inc. (the "Company") (NASDAQ: PEGI) (TSX: PEG) today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission in connection with a proposed primary and secondary public offering of up to US$460million of its Class A common stock. In addition, the Company has filed a preliminary base shelf prospectus with Canadian securities regulators qualifying the sale in Canada from time to time of up to US$1 billion of Class A common stock and debt securities. The proposed offering will also be made in Canada pursuant to the Company's base shelf prospectus.
The proceeds of the primary portion of the offering will be used for working capital and general corporate purposes, which may include investment in one or more acquisition opportunities the Company is considering. The Company will not receive any proceeds from the sale of the shares of Class A common stock to be sold by the selling shareholder.
This offering will be made only by means of a prospectus. Copies of the preliminary prospectus and final prospectus related to the offering may be obtained when available from BMO Capital Markets Corp., Attn: Equity Syndicate Department, 3 Times Square, New York, NY 10036, or by telephone at (800) 414-3627 or by email at; RBC Capital Markets, LLC, Three World Financial Center, 200 Vesey Street, 8th Floor, New York, NY 10281, Attn: Prospectus Department, or by telephone at (866) 375-6829 or by email at ; or Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by telephone at (866) 718-1649 or by email at .
A registration statement, including a prospectus, relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. Copies of the registration statement can be accessed at www.sec.gov. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Pattern Energy
Pattern Energy Group Inc. is an independent power company listed on the NASDAQ and Toronto Stock Exchange. Including the acquisition of the Panhandle 2 project from Pattern Energy Group LP, which the Company expects to complete, subject to the satisfaction of customary closing conditions, in the fourth quarter of 2014, Pattern Energy owns interests in ten wind power projects located in the United States, Canada and Chile that use proven, best-in-class technology and have a total owned capacity of 1,255 MW. Pattern Energy's wind power projects generate stable long-term cash flows in attractive markets and provide a solid foundation for the continued growth of the business.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of Canadian securities laws, including statements regarding the proposed public offering and use of proceeds. These forward-looking statements represent the Company's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, including conditions to closing this offering, many of which are outside of the Company's control, which could cause actual results to differ materially from the results discussed in the forward-looking statements.
Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC and applicable Canadian securities regulatory authorities and incorporated by reference therein from the Company's annual report on Form 10-K. The risk factors and other factors noted in the prospectus could cause actual events or the Company's actual results to differ materially from those contained in any forward-looking statement.
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