BROOKFIELD, News, Jan. 12, 2026 (GLOBE NEWSWIRE) -- Brookfield Renewable Corporation (NYSE:BEPC, TSX:BEPC) ("BEPC") and Brookfield Renewable Partners L.P. (NYSE:BEP, TSX:BEP) (the "Partnership" and together with BEPC, "Brookfield Renewable") today announced that they have made the necessary Canadian and U.S. securities filings to enable an "at the market" equity issuance program (the "ATM Program") of class A exchangeable subordinate voting shares of BEPC (the "BEPC Shares"). Under the ATM Program, BEPC may, at its discretion, offer and sell up to $400 million (or the Canadian dollar equivalent) of BEPC Shares directly from treasury.
Brookfield Renewable intends to use the net proceeds from the ATM Program, if any, to facilitate repurchases by the Partnership of its non-voting limited partnership units (each, an "LP Unit") under its normal course issuer bid ("NCIB") program (subject to compliance with applicable securities laws) and for general corporate purposes.
Overall, the ATM Program, if exercised, is expected to be non-dilutive to Brookfield Renewable, as the combined number of LP Units and BEPC Shares outstanding is intended to remain generally unchanged, though there may be temporary fluctuations over the course of the issuances of BEPC Shares and corresponding repurchases of LP Units.
ATM Program Details
Under the ATM Program, BEPC Shares may be sold to the public from time to time at prevailing market prices through the Toronto Stock Exchange, the New York Stock Exchange or any other marketplace in Canada or the United States where BEPC Shares may be traded. As a result, sale prices of the BEPC Shares sold under the ATM Program, if any, may vary among purchasers and throughout the distribution period. The ATM Program will provide BEPC with flexibility to issue BEPC Shares directly into the market at times when conditions are determined to be favorable.
Each BEPC Share will be exchangeable at the option of the holder for one LP Unit (subject to adjustment to reflect certain capital events) or its cash equivalent (the form of payment to be determined at the election of BEPC).
The BEPC Shares will be offered pursuant to an equity distribution agreement dated January 12, 2026 (the "Distribution Agreement") entered among the Partnership, BEPC and BMO Nesbitt Burns Inc. and TD Securities Inc. (together, the "Canadian Agents"), and BMO Capital Markets Corp. and TD Securities (USA) LLC (together, the "U.S. Agents" and, together with the Canadian Agents, the "Agents", each an "Agent"). Sales may be made through "at the market distributions" as defined in National Instrument 44-102 ...
