Capital Power Upsizes Bought Deal Offering to Fund Strategic Acquisitions

Capital Power ( (TSE:CPX) ) has provided an update.

Capital Power Corporation has announced an increase in its previously declared bought deal offering of common shares, raising approximately $450 million in gross proceeds. The funds from this offering, along with a private placement, will be used to finance the acquisition of Hummel Station, LLC and Rolling Hills Generating, L.L.C., or alternatively, to support future growth opportunities, capital expenditures, or debt reduction.

Spark’s Take on TSE:CPX Stock

According to Spark, TipRanks’ AI Analyst, TSE:CPX is a Outperform.

Capital Power’s overall score reflects strong financial fundamentals and strategic growth initiatives, counterbalanced by bearish technical indicators and high leverage. The attractive valuation and high dividend yield present potential opportunities for investors.

To see Spark’s full report on TSE:CPX stock, click here.

More about Capital Power

Capital Power Corporation operates in the energy sector, focusing on power generation and electricity services. The company is involved in developing, acquiring, and operating power generation facilities across North America, with a market focus on sustainable and reliable energy solutions.

YTD Price Performance: -26.52%

Average Trading Volume: 960,453

Technical Sentiment Signal: Hold

Current Market Cap: C$6.44B

For a thorough assessment of CPX stock, go to TipRanks’ Stock Analysis page.