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Milan expected to sack Paulo Fonseca, per reports: Who is in line to be Christian Pulisic's next club coach?BASE SHELF PROSPECTUS IS ACCESSIBLE, AND PROSPECTUS SUPPLEMENT WILL BE ACCESSIBLE WITHIN TWO BUSINESS DAYS, ON SEDAR+ NOT FOR DISTRIBUTION TO THE U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES EDMONTON, Alberta, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Capital Power Corporation (TSX: CPX) ("Capital Power” or the "Company”) announced today that it has entered into an agreement with a syndicate of underwriters co-led by TD Securities and Scotiabank (collectively the "Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 5,960,000 common shares of Capital Power ("Common Shares”) at an offering price of $58.80 per Common Share (the "Offering Price”) for total gross proceeds to the Company of approximately $350 million (the "Offering”). The Underwriters have also been granted an option (the "Over-Allotment Option”) to purchase up to an additional 894,000 Common Shares at the Offering Price. The Over-Allotment Option is exercisable, in whole or in part, at any time for a period of 30 days following the closing of the Offering. If the Over-Allotment Option is exercised in full, total gross proceeds to the Company from the Offering will be approximately $403 million. The Company intends to use the net proceeds from the Offering to fund future potential acquisitions and growth opportunities and for general corporate purposes. "North American power demand is undergoing unprecedented and multi-faceted growth, highlighting the need for reliable generation. Amid this backdrop, we are focused on opportunities to enhance our strategically positioned asset base but remain disciplined and focused on achieving our stated investment return thresholds. This financing, together with our recent renewable sell-down transaction, augments our strong balance sheet and positions us well to fund future growth opportunities,” said Avik Dey, President and Chief Executive Officer of Capital Power. The Common Shares will be offered in all provinces and territories of Canada by way of a prospectus supplement (the "Prospectus Supplement”) to Capital Power's base shelf prospectus dated June 12, 2024 (the "Base Shelf Prospectus”). The Prospectus Supplement will be filed with the securities commissions or securities regulatory authorities in all the provinces and territories of Canada on or before December 12, 2024. The Common Shares will also be offered on a private placement basis to "qualified institutional buyers” pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act”). Completion of the Offering is subject to customary conditions, including requirements of the TSX. Closing of the Offering is anticipated to occur on December 17, 2024. All references to dollar amounts contained herein are to Canadian dollars. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. No securities regulatory authority has either approved or disapproved of the contents of this press release. This announcement does not constitute an offer of securities for sale in the United States, nor may any securities referred to herein be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act, and the rules and regulations thereunder. The securities referred to herein have not and will not be registered under the U.S. Securities Act or any state securities laws, and except pursuant to exemptions from registration requirements of the U.S. Securities Act or any state securities laws, there is no intention to register any of the securities in the United States or to conduct a public offering of securities in the United States. Such securities may be offered in the United States only to "qualified institutional buyers” (as defined in and in reliance on Rule 144A under the U.S. Securities Act). Access to the Base Shelf Prospectus, the Prospectus Supplement, and any amendments to the documents will be provided in accordance with securities legislation relating to procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment. The Base Shelf Prospectus is, and the Prospectus Supplement will be (within two business days of the date hereof), accessible on the System for Electronic Data Analysis and Retrieval + ("SEDAR+”) at www.sedarplus.ca. The Common Shares are offered under the Prospectus Supplement. An electronic or paper copy of the Base Shelf Prospectus, the Prospectus Supplement (when filed), and any amendment to the documents may be obtained without charge, from TD Securities at 1625 Tech Avenue, Mississauga, Ontario L4W 5P5 Attention: Symcor, NPM, or by telephone at (289) 360-2009 or by email at [email protected] by providing the contact with an email address or address, as applicable. The Base Shelf Prospectus and Prospectus Supplement contain important, detailed information about the Company and the proposed Offering. Prospective investors should read the Base Shelf Prospectus and Prospectus Supplement (when filed) before making an investment decision. Forward-looking Information Forward-looking information or statements included in this press release are provided to inform the Company's shareholders and potential investors about management's assessment of Capital Power's future plans and operations. This information may not be appropriate for other purposes. The forward-looking information in this press release is generally identified by words such as will, anticipate, believe, plan, intend, target, and expect or similar words that suggest future outcomes. This press release includes forward-looking information and statements pertaining to the expected amount and intended use of the net proceeds of the Offering, any exercise of the Over-Allotment Option, the expected closing date of the Offering, North American power demand, the renewable sell-down transaction, and opportunities available to the Company. These statements are based on certain assumptions and analyses made by Capital Power considering its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate including its review of purchased businesses and assets. The material factors and assumptions used to develop these forward-looking statements relate to: (i) electricity natural gas, other energy and carbon prices, (ii) performance, (iii) business prospects and opportunities, (iv) the status of and impact of policy, legislation and regulations and (v) effective tax rates. Whether actual results, performance or achievements will conform to Capital Power's expectations and predictions is subject to a number of known and unknown risks and uncertainties which could cause actual results and experience to differ materially from Capital Power's expectations. Such material risks and uncertainties include: (i) changes in electricity, natural gas and carbon prices in markets in which Capital Power operates and Capital Power's use of derivatives, (ii) regulatory and political environments, including changes to environmental, climate, financial reporting, market structure and tax legislation, (iii) disruptions or price volatility within Capital Power's supply chains, (iv) generation facility availability, wind capacity factor and performance, including maintenance expenditures, (v) ability to fund current and future capital and working capital needs, (vi) acquisitions, dispositions and developments, including timing and costs of regulatory approvals and construction, (vii) changes in the availability of fuel, (viii) the ability to realize the anticipated benefits of acquisitions and dispositions, (ix) limitations inherent in Capital Power's review of acquired assets, (x) changes in general economic and competitive conditions, including inflation and the potential for a recession and (xi) changes in the performance and cost of technologies and the development of new technologies, and new energy efficient products, services and programs. See Risks and Risk Management in Capital Power's Integrated Annual Report for the year ended December 31, 2023, prepared as of February 27, 2024, and Capital Power's interim Management's Discussion and Analysis for the three and nine months ended September 30, 2024, under Capital Power's profile on SEDAR+ (www.sedarplus.ca), and other reports filed by Capital Power with Canadian securities regulators. Readers are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the specified approval date. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by applicable securities laws. Territorial Acknowledgement In the spirit of reconciliation, Capital Power respectfully acknowledges that we operate within the ancestral homelands, traditional and treaty territories of the Indigenous Peoples of Turtle Island, or North America. Capital Power's head office is located within the traditional and contemporary home of many Indigenous Peoples of the Treaty 6 region and Métis Nation of Alberta Region 4. We acknowledge the diverse Indigenous communities that are located in these areas and whose presence continues to enrich the community. About Capital Power Capital Power (TSX: CPX) is a growth-oriented power producer with approximately 9,300 MW of power generation at 32 facilities across North America. We prioritize safely delivering reliable and affordable power communities can depend on, building clean power systems, and creating balanced solutions for our energy future. We are Powering Change by Changing PowerTM. For more information, please contact : Katherine Perron (780) 392-5335 [email protected] Roy Arthur (403) 736-3315 [email protected]
NEW YORK (AP) — U.S. stocks rose to records after data suggested the job market remains solid enough to keep the economy going, but not so strong that it raises immediate worries about inflation. The S&P 500 climbed 0.2%, just enough top the all-time high set on Wednesday, as it closed a third straight winning week in what looks to be one of its best years since the 2000 dot-com bust. The Dow Jones Industrial Average dipped 0.3%, while the Nasdaq composite climbed 0.8% to set its own record. Treasury yields eased after the jobs report showed stronger hiring than expected but also an uptick in the unemployment rate. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — U.S. stocks are drifting around their records Friday after data suggested the job market remains solid enough to keep the economy going, but not so strong that it raises immediate worries about inflation . The S&P 500 rose 0.2% and was just above its all-time high set on Wednesday. It’s rolling toward the close of a third straight winning week in what’s likely to be one of its best years since the 2000 dot-com bust. The Dow Jones Industrial Average was down 108 points, or 0.2%, as of 1:51 p.m. Eastern time, and the Nasdaq composite climbed 0.7%. Stocks held relatively steady as the latest jobs report strengthened expectations among traders that the Federal Reserve will cut interest rates again at its next meeting in two weeks. While the report showed U.S. employers hired more workers than expected last month, it also said the unemployment rate unexpectedly ticked up to 4.2% from 4.1%. “This print doesn’t kill the holiday spirit and the Fed remains on track to deliver a cut in December,” according to Lindsay Rosner, head of multi-sector investing within Goldman Sachs Asset Management. The Fed began easing its main interest rate from a two-decade high in September to offer more help for the slowing job market, after bringing inflation nearly all the way down to its 2% target. Lower interest rates can ease the brakes off the economy, but they can also offer more fuel for inflation. Expectations for a series of cuts from the Fed have been a major reason the S&P 500 has set an all-time high 56 times so far this year. And the Fed is part of a global surge: 62 central banks have lowered rates in the past three months, the most since 2020, according to Michael Hartnett and other strategists at Bank of America. Still, the jobs report may have included some notes of caution for Fed officials underneath the surface. Scott Wren, senior global market strategist at Wells Fargo Investment Institute, pointed to average wages for workers last month, which were a touch stronger than economists expected. While that’s good news for workers who would always like to make more, it could also keep upward pressure on inflation. “This report tells the Fed that they still need to be careful as sticky housing/shelter/wage data shows that it won’t be easy to engineer meaningfully lower inflation from here in the nearer term,” Wren said. So, while traders are betting on a nearly 90% probability the Fed will ease its main rate in two weeks, they’re much less certain about how many more cuts it will deliver next year, according to data from CME Group. For now, the hope is that the job market can help U.S. shoppers continue to spend and keep the U.S. economy out of a recession that had earlier seemed inevitable after the Fed began hiking interest rates swiftly to crush inflation. Several retailers offered encouragement after delivering better-than-expected results for the latest quarter. Ulta Beauty rallied 10.4% after topping expectations for both profit and revenue. The opening of new stores helped it boost its revenue, and it raised the bottom end of its forecasted range for sales over this full year. Lululemon stretched 17.9% higher following its own profit report. It said stronger sales outside the United States helped it in particular, and its earnings topped analysts’ expectations. Retailers overall have been offering mixed signals on how resilient U.S. shoppers can remain amid the slowing job market and still-high prices. Target gave a dour forecast for the holiday shopping season, for example, while Walmart gave a much more encouraging outlook. A report on Friday suggested sentiment among U.S. consumers may be improving more than economists expected. The preliminary reading from the University of Michigan's survey hit its highest level in seven months. The survey found a surge in buying for some products as consumers tried to get ahead of possible increases in price due to higher tariffs that President-elect Donald Trump has threatened. In tech, Hewlett Packard Enterprise jumped 10.8% for one of the S&P 500's larger gains after reporting stronger profit and revenue than expected. Tech stocks broadly were one of the main reasons the S&P 500 climbed this past week, as Salesforce and other big companies talked up how much of a boost they’re getting from the artificial-intelligence boom. In the bond market, the yield on the 10-year Treasury yield slipped to 4.16% from 4.18% late Thursday. In stock markets abroad, France’s CAC 40 rose 1.3% after French President Emmanuel Macron announced plans to stay in office until the end of his term and to name a new prime minister within days. Earlier this week, far-right and left-wing lawmakers approved a no-confidence motion due to budget disputes, forcing Prime Minister Michel Barnier and his cabinet to resign. In Asia, stock indexes were mixed. They rallied 1.6% in Hong Kong and 1% in Shanghai ahead of an annual economic policy meeting scheduled for next week. South Korea’s Kospi dropped 0.6% as South Korea’s ruling party chief showed support for suspending the constitutional powers of President Yoon Suk Yeol after he declared martial law and then revoked that earlier this week. Yoon is facing calls to resign and may be impeached. Bitcoin was sitting a little above $101,000 after briefly bursting above $103,000 to a record the day before. AP Writers Matt Ott and Zimo Zhong contributed.January 29, 2025 11:00 AM ET 1 hour Identify key supply chain vulnerabilities and resilience strategies. Analyze regulatory changes' implications on global trade. Evaluate geopolitical shifts' impact on supply chain operations. Implement diversification strategies to mitigate risks. Enhance supply chain visibility and data protection through technology. 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The Milwaukee Bucks , led by MVP-candidate Giannis Antetokounmpo, have surged into playoff positioning after a lackluster opening month. Antetokounmpo has taken a noticeable offensive leap, which may be difficult to imagine. However, the Greek Freak's midrange game has developed formidably and has resulted in the Bucks' superstar ranking second in NBA.com's most recent MVP ladder . Antetokounmpo attempts the fourth-most midrange shots per game , behind only DeMar DeRozan, Brandon Ingram, and Joel Embiid. The longtime Bucks cornerstone is shooting a respectable 47.5 percent from the midrange . Antetokounmpo explained his shift in approach recently , “I’m in an age that I’ve realized that, in order for me to be effective and still be able to help my team win games, I have to switch my game a little bit. I know I’m effective in the paint, but you take a lot of beating. Now, my body today, I feel great. I feel like I haven’t been touched, which is incredible.” Antetokounmpo continued, “...it takes the beating out of me and my teammates want me to keep on shooting them.” Replacing some of Antetokounmpo's drives with midrange attempts should allow the former two-time MVP to remain healthy through the regular season. On Antetokounmpo's drives, he has to embrace contact, which often leads to a foul. However, he is driving at the second-highest rate of his career as 56.5 percent of his shots are taken from within three feet of the hoop. So, where are these midrange shots coming from? Well, Antetokounmpo is shooting the least amount of threes of his career , with just 3.6 percent of his shots coming from deep. He is a career 28.6 percent three-point shooter. So, a shift to more efficient midrange shots makes some sense. Antetokounmpo detailed his midrange volume in a recent postgame media availability, saying, “I think I made like 39 [midrange shots] last year in 73 games. I’ve made 40-something in like 16 games this year.” With the return of Khris Middleton on Friday night , Antetokounmpo could slightly adjust his approach due to Middleton's ability to efficiently knock down shots from anywhere on the court. Although, any threat of a jump-shot has Antetokounmpo borderline unguardable. When his defender is guarding him tightly, he can blow by and get to the rim with ease. When his defender is sagging off, the Greek Freak can now rise up and knock down the jumper confidently. Antetokounmpo adding a cromulent midrange package has him as the league’s most dominant two-way force today. MORE BUCKS NEWS: Milwaukee Bucks telling opponents crazy message in regards to trade offers for Giannis Antetokounmpo