On September 19, 2023, Fortis Inc. announced and closed an at-the-market equity offering of up to $500 million in common shares. Shares are sold on the TSX and NYSE at market prices, with proceeds allocated to general corporate purposes, including debt reduction.

Underwriters include CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc., and TD Securities Inc., along with their U.S. affiliates. Legal advisors were Davies Ward Phillips & Vineberg LLP (Canada and U.S.) for Fortis, and Stikeman Elliott LLP (Canada) and Paul, Weiss, Rifkind, Wharton & Garrison LLP (U.S.) for the underwriters. Agents earn a 1% commission on gross sales.