Altus Power, Inc. Announces Secondary Underwritten Public Offering of Class a Common Stock
September 28 2022 - 3:15PM
Business Wire
Altus Power, Inc. (“Altus Power”) (NYSE: AMPS), the premier
independent developer, owner and operator of commercial-scale solar
facilities, today announced that a selling stockholder affiliated
with Blackstone (“Blackstone”) intends to offer and sell 7,000,000
shares of Altus Power’s Class A common stock in a secondary
underwritten public offering. In connection with the offering,
Blackstone is expected to grant the underwriters a 30-day option to
purchase up to 1,050,000 additional shares of Class A common stock
on the same terms and conditions. All of the shares in the offering
are to be sold by Blackstone. Altus Power will not receive any
proceeds from the sale of shares of its Class A common stock by
Blackstone.
J.P. Morgan, Citigroup and Evercore ISI are acting as joint
book-running managers for the offering.
The shares of Class A common stock are being offered pursuant to
an effective registration statement on Form S-1 that Altus Power
previously filed with the Securities and Exchange Commission (the
“SEC”) on January 10, 2022 and which was declared effective on
January 21, 2022. The offering will be made only by means of the
written prospectus supplement and the accompanying prospectuses
that form a part of the registration statements. An electronic
preliminary prospectus supplement and the accompanying prospectuses
relating to the offering will be filed with the SEC and will be
available on the SEC’s website at www.sec.gov. Copies of the
preliminary prospectus supplement and the accompanying prospectuses
relating to the offering may also be obtained, when available, from
J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717, by telephone at +1
(866) 803-9204 or by email at prospectus-eqfi@jpmorganchase.com;
Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717 (Tel: 800-831-9146); or Evercore Group
L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street,
35th Floor, New York, NY 10055, by telephone at 888-474-0200 or by
email at ecm.prospectus@evercore.com.
This press release does not constitute an offer to sell or
the solicitation of offers to buy any securities of Altus Power
being offered, and shall not constitute an offer, solicitation or
sale of any security in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About Altus Power
Altus Power, based in Stamford, Connecticut, is the premier
commercial-scale clean electrification company, serving commercial,
industrial, public sector and community solar customers with an
end-to-end solution. Altus Power originates, develops, owns and
operates locally sited solar generation, energy storage, and EV
charging infrastructure across the nation.
Forward-Looking Statements
This press release contains forward-looking statements.
Forward-looking statements may be identified by the use of words
such as “intends,” “will, “expect,” “believe” or variations of such
words or similar terminology that predict or indicate future events
or trends or that are not statements of historical matters. These
statements are based on Altus Power’s management’s current
expectations and beliefs, as well as a number of assumptions
concerning future events.
Such forward-looking statements are subject to known and unknown
risks, uncertainties, assumptions and other important factors, many
of which are outside Altus Power’s control, that could cause actual
results to differ materially from the results discussed in the
forward-looking statements including the completion of the proposed
public offering on the anticipated terms or at all.
Additional factors that could cause actual results to differ
materially from those expressed or implied in forward-looking
statements can be found under the heading “Risk Factors” in Altus
Power’s [Form 10-K filed with the Securities and Exchange
Commission on March 24, 2022,]1 as well as the other information we
file with the Securities and Exchange Commission.
This press release is not intended to be all-inclusive or to
contain all the information that a person may desire in considering
an investment in Altus Power and is not intended to form the basis
of an investment decision in Altus Power. All subsequent written
and oral forward-looking statements concerning Altus Power or other
matters and attributable to Altus Power or any person acting on its
behalf are expressly qualified in their entirety by the cautionary
statements above.
_____________________________ 1 NTD: Reference 8-K if updated risk factors
will be filed in a separate 8-K at launch to bring the risk factors
into the 34 Act stream, and if not, reference the ProSupp.
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version on businesswire.com: https://www.businesswire.com/news/home/20220928005979/en/
Altus Power:
For Media: Cory Ziskind ICR, Inc. AltusPowerPR@icrinc.com
For Investors: Chris Shelton, Head of IR Caldwell Bailey, ICR,
Inc. InvestorRelations@altuspower.com
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