09:39 AM EST - TransAlta Corp. : said it reached an agreement with a syndicate of underwriters whereby they have agreed to buy from TransAlta and sell to the public 18.65 million common shares. The purchase price of $20.10 per common share would result in gross proceeds to TransAlta of approximately $375 million. The offering is expected to close on or about November 5, 2009. TransAlta has granted the underwriters an over-allotment option to purchase up to an additional 1.86 million common shares at the same price, exercisable in whole or in part at any time for 30 days following closing of the offering. The net proceeds from the offering would be used to repay a portion of the indebtedness incurred in connection with the acquisition of Canadian Hydro Developers, Inc. TransAlta Corp.
shares T.TA are trading even at $20.55.
