On December 20, 2022, Keyera Corp. closed its CAD 200.08 million share offering, announced on December 15, 2022, to partially fund its CAD 365 million acquisition of an additional 21% working interest in the Keyera Fort Saskatchewan (KFS) complex. The offering consisted of 7,070,000 common shares priced at CAD 28.30 per share, with net proceeds of approximately CAD 192.09 million.

The underwriting syndicate was led by RBC Dominion Securities Inc. and included CIBC World Markets Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns Inc., ATB Capital Markets Inc., Peters & Co. Limited, and Tudor, Pickering, Holt & Co. Securities – Canada, ULC. Legal advisors were Bennett Jones LLP for Keyera and Dentons Canada LLP for the underwriters.

The acquisition, expected to close in Q1 2023, will increase Keyera’s ownership in KFS to 98%. If the acquisition does not proceed, the proceeds will be used for debt reduction and general corporate purposes.