Pattern To Raise Funds Through Public Offering


In a move that could signal future wind acquisitions, developer Pattern Energy Group is planning to raise more than $350 million through the sale of 12 million shares of common stock for $29.25 each.

The offering is scheduled to close on Feb. 9 and is subject to customary closing conditions.

Pattern says it will use the net proceeds from its portion of the offering for working capital and general corporate purposes, which may include one or more acquisition opportunities.

The offering is being made through an underwriting group led by Morgan Stanley, BofA Merrill Lynch and RBC Capital Markets.

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