03:47 PM EDT, 06/09/2025 (MT Newswires) -- Capital Power ( CPXWF ) on Monday closed the prior announced acquisition of 100% equity interests in Hummel Station, LLC and Rolling Hills Generating, LLC for US$2.2 billion, or C$3 billion.

A statement noted the acquisitions include the owner of the 1,124MW Hummel combined cycle natural gas facility in Shamokin Dam, Pennsylvania; and the owner of the 1,023MW Rolling Hills plant, a combustion turbine natural gas facility in Wilkesville, Ohio.

The acquisition, previously announced in mid-April, was partially financed with net proceeds from an offering of common shares and a private offering of senior notes. The equity offering consisted of total gross proceeds of C$667 million, including an approximately $517 million bought public offering and an approximately $150 million private placement with Alberta Investment Management Corporation.

The notes offering consisted of a private offering of US$1.2 billion aggregate principal amount of senior notes in the U.S. issued by Capital Power ( CPXWF ) (US Holdings) Inc. -- a U.S. wholly owned subsidiary of the company. The balance of the acquisition was funded with additional cash on hand and a drawdown on the company's existing revolving credit facilities.

The company had entered into a Commitment Letter for an acquisition term loan with a Canadian chartered bank in April to fund up to $2 billion of the acquisition purchase price.

CPX was down 0.40 at $55.61.

Price: 55.63, Change: -0.38, Percent Change: -0.68