TransAlta Corporation Announces Closing of $350 Million Bought Deal Offering of Common Shares

TransAlta Corporation has closed its bought deal offering of common shares, issuing 18,230,000 shares at $19.20 each for gross proceeds of approximately $350 million. The company plans to use these proceeds to fund the acquisition of two natural gas-fired peaking facilities near Denver, Colorado, totaling 318 MW. The acquisition is expected to close in the fourth quarter of 2026, subject to regulatory approvals. If the acquisition does not proceed, TransAlta intends to use the funds for future growth opportunities, capital expenditures, debt reduction, or general corporate purposes. The underwriters have an option to purchase additional shares, potentially increasing the gross proceeds by approximately $52.5 million.