TransAlta Corp to Sell 18.2M Shares for $350M to Fund Colorado Acquisition

TransAlta Corporation has entered into an underwriting agreement to issue and sell 18,230,000 common shares at a price of $19.20 per share, with an option for underwriters to purchase an additional 2,734,500 shares. The offering, expected to raise approximately $350 million, will be used to fund the cash portion of the acquisition of two natural gas fired peaking facilities in Colorado for approximately US$1.0 billion. The deal is structured as a 'bought deal' with a closing date around June 9, 2026.