UNDERWRITING AGREEMENTUnderwriting Agreement • June 21st, 2021 • Algonquin Power & Utilities Corp. • Electric services • New York
Each Corporate Unit will initially consist of (a) a 1/20th, or 5%, undivided beneficial ownership interest in $1,000 principal amount of the Corporation’s 1.18% Remarketable Senior Notes due 2026 (the “Notes”) and (b) a purchase contract (a “Purchase Contract”) issued by the Corporation pursuant to which the holder of such Purchase Contract will be obligated to purchase from the Corporation, and the Corporation will be obligated to sell, on June 15, 2024, subject to earlier termination or settlement, for an amount in cash equal to the stated amount per Equity Unit (as defined below) of $50.00 (the “Stated Amount”), a number of common shares (“Common Shares”) in the capital of the Corporation (the “Underlying Shares”), as set forth in the Purchase Contract and Pledge Agreement (as defined below). The Notes will be issued pursuant to an indenture to be dated as of the Closing Date (as defined in Article I below) (the “Base Indenture”), among the Corporation, The Bank of New York Mellon T
