Enbridge Inc. concluded an equity offering valued at up to $2.75 billion, as detailed in a prospectus supplement dated May 15, 2024. The offering, which was qualified through a short form base shelf prospectus dated September 5, 2023, involved the distribution of common shares listed on both the Toronto Stock Exchange (TSX) and the New York Stock Exchange (NYSE) under the symbol "ENB."

Enbridge entered into an equity distribution agreement with a consortium of Canadian and U.S. sales agents, including BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., and others, to facilitate the sale of shares. The shares were sold through "at-the-market distributions" on the TSX and NYSE, with no minimum fundraising requirement. The sales agents received a commission of up to 2% of the gross proceeds.

Legal matters were handled by McCarthy Tétrault LLP and Dentons Canada LLP in Canada, and Sullivan & Cromwell LLP and Baker Botts L.L.P. in the United States. Proceeds from the offering were intended for general corporate purposes, including debt reduction. The total expenses related to the offering, excluding commissions, were approximately $2 million. The offering was made concurrently in Canada and the United States, adhering to the respective legal and regulatory requirements of both countries.