ROCKPOINT GAS STORAGE INC. LAUNCHES ITS INITIAL PUBLIC OFFERING

Executive Summary

• Rockpoint Gas Storage Inc. has launched its Initial Public Offering (IPO) of Class A common shares following the filing of an amended and restated preliminary base shelf prospectus with Canadian securities regulators.
• The company is conducting a roadshow and expects to raise between C$418 million and C$484 million in gross proceeds.
• The shares are intended to be listed on the Toronto Stock Exchange (TSX) under the symbol "RGSI", subject to TSX approval.

Key Details

• Offering Structure: The IPO consists of 22,000,000 Class A Shares issued from treasury.
• Pricing: The offering price is set between C$19.00 and C$22.00 per Class A Share.
• Gross Proceeds: Expected gross proceeds range from C$418 million to C$484 million.
• Over-Allotment Option: Selling shareholders have granted underwriters an option to acquire up to an additional 3,30,000 Class A Shares, exercisable within 30 days after the closing date to cover over-allotments or for market stabilization.
• Underwriters: RBC Capital Markets and J.P. Morgan are acting as joint lead bookrunning managers.
• Listing: Application submitted to the Toronto Stock Exchange (TSX) for trading symbol "RGSI"; listing is subject to TSX approval and is not yet guaranteed.
• Regulatory Status: An amended and restated preliminary base shelf prospectus has been filed with securities regulatory authorities in all Canadian provinces and territories.

Notable Quotes

• No direct quotes from management were included in the provided text.