PATTERN ENERGY GROUP INC.
(Exact Name of Registrant as Specified
in Its Charter)
Delaware
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90-0893251
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(State or Other Jurisdiction of
Incorporation or Organization)
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(I.R.S. Employer
Identification Number)
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Pier 1, Bay 3
San Francisco, CA 94111
(415) 283-4000
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(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant’s Principal Executive Offices)
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Daniel M. Elkort
General Counsel
Pattern Energy Group Inc.
Pier 1, Bay 3
San Francisco, CA 94111
(415) 283-4000
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(Name, Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent For Service)
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Copies to:
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Richard D. Truesdell, Jr.
Shane Tintle
Davis Polk & Wardwell LLP
450 Lexington Avenue
New York, NY 10017
(212) 450-4000
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Approximate date of commencement of
proposed sale to the public
: From time to time after this Registration Statement becomes effective.
If the only securities being registered
on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box.
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If any of the securities being registered
on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than
securities offered only in connection with dividend or interest reinvestment plans, check the following box.
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If this Form is filed to register additional
securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities
Act registration statement number of the earlier effective registration statement for the same offering.
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If this Form is a post-effective amendment
filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering.
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If this Form is a registration statement
pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission
pursuant to Rule 462(e) under the Securities Act, check the following box.
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If this Form is a post-effective amendment
to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes
of securities pursuant to Rule 413(b) under the Securities Act, check the following box.
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Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth
company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting
company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer
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Accelerated filer
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Non-accelerated filer
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(Do not check if a smaller reporting company)
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Smaller reporting company
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Emerging growth company
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If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.
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CALCULATION OF REGISTRATION FEE
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Title of Each
Class of Securities
to be Registered
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Amount to Be Registered(1)
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Proposed Maximum Offering Price
per Unit(1)
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Proposed Maximum Aggregate Offering Price(1)
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Amount of
Registration Fee(1)
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Class A common stock, par value $0.01 per share
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Preferred stock, par value $0.01 per share
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Senior debt securities
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Subordinated debt securities
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Warrants
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Purchase Contracts
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Subscription Receipts
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Units
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(1)
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An indeterminate amount of securities to be offered at indeterminate prices is being registered pursuant to this registration
statement. The registrant is deferring payment of the registration fee pursuant to Rule 456(b) and is omitting this information
in reliance on Rule 456(b) and Rule 457(r).
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Immediately after the filing of
this registration statement, Pattern Energy Group Inc. will file a prospectus supplement relating to $170,766,905 of unsold
shares of its Class A common stock pursuant to a continuous offering program equity distribution agreement, that were
previously covered by Registration Statement No. 333-199217 filed on October 8, 2014 and a prospectus supplement thereto
dated May 9, 2016 filed pursuant to Rule 424(b).
Pursuant to Rule 415(a)(6) under the Securities
Act, the foregoing filing fees previously paid in connection with the above described unsold securities will continue to be applied
to such unsold securities pursuant to this registration statement and Registration Statement No. 333-199217 is terminated effective
upon the filing of this registration statement.
PROSPECTUS
Pattern Energy Group Inc.
Class A Common Stock
Preferred Stock
Debt Securities
Warrants
Purchase Contracts
Subscription Receipts
Units
We may from time to time, in one or more
offerings, offer and sell Class A common stock, preferred stock, debt securities, warrants, purchase contracts, subscription receipts
and units. In addition, certain selling securityholders to be identified in supplements to this prospectus may offer and sell these
securities from time to time. Specific amounts and terms of these securities will be provided in supplements to this prospectus.
You should read this prospectus and any prospectus supplement carefully before you invest.
Our Class A common stock is listed on the
NASDAQ Global Select Market and on the Toronto Stock Exchange under the symbol “PEGI.” We have not yet determined whether
the other securities that may be offered by this prospectus will be listed on any exchange, interdealer quotation system or over-the-counter
market. If we decide to seek the listing of any such securities upon issuance, the prospectus supplement relating to those securities
will disclose the exchange, quotation system or market on which the securities will be listed.
We or the selling securityholders may offer
and sell these securities to or through one or more underwriters, dealers and agents, or directly to investors, in amounts, at
prices and on terms to be determined by market conditions and other factors at the time of the offering. This prospectus describes
only the general terms of these securities and the general manner in which we or the selling securityholders will offer the securities.
The specific terms of any securities we or the selling securityholders offer will be included in a supplement to this prospectus.
The prospectus supplement will also describe the specific manner in which we or the selling securityholders will offer the securities.
Any prospectus supplement may also add, update or change information contained in this prospectus.
You should carefully read this prospectus
and any accompanying prospectus supplement, together with the documents we incorporate by reference, before you invest in our Class
A common stock, preferred stock, debt securities, warrants, purchase contracts, subscription receipts or units.
Investing in these securities involves
certain risks. See “Risk Factors” on page 5 before you make your investment decision.
Neither the Securities and Exchange
Commission nor any state securities commission has approved or disapproved these securities, or determined if this prospectus is
truthful or complete. Any representation to the contrary is a criminal offense.
The date of this prospectus is August
14, 2017
Neither we, nor any selling securityholder,
nor any underwriter has authorized anyone to provide any information other than that contained or incorporated by reference in
this prospectus or in any free writing prospectus prepared by us or on our behalf or to which we have referred you. We take no
responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you.
The information contained in this prospectus,
in any prospectus supplement or in any document incorporated by reference is accurate only as of its date, regardless of the time
of delivery of this prospectus, any prospectus supplement or any sale of securities.
This prospectus is not an offer to sell
or solicitation of an offer to buy these securities in any circumstances under which or in any jurisdiction where the offer or
solicitation is not permitted.
Unless otherwise specified or unless the
context otherwise indicates, the terms “Pattern,” “Pattern Energy” the “Company,” “we,”
“us,” “our” and “our company” used in this prospectus refer to Pattern Energy Group Inc. and
its consolidated subsidiaries. Unless the context otherwise indicates, the phrase “this prospectus” refers to this
prospectus and any applicable prospectus supplement(s).
All dollar amounts in this prospectus are
expressed in U.S. dollars unless otherwise expressly noted.
table
of contents
Page
Pattern Energy Group Inc.
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1
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About This Prospectus
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2
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Where You Can Find More Information
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2
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Special Note on Forward-Looking Statements
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3
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Risk Factors
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5
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Use of Proceeds
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5
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Ratio of Earnings to Fixed Charges
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Description of Capital Stock
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Description of Debt Securities
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9
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Description of Warrants
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11
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Description of Purchase Contracts
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Description of Subscription Receipts
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Description of Units
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12
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Forms of Securities
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12
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Plan of Distribution
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15
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Validity of Securities
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Experts
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16
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Pattern
Energy Group Inc.
We are an independent power company focused
on owning and operating power projects with stable long-term cash flows in attractive markets with potential for continued growth
of our business.
Corporate Information
Our principal executive offices are located
at Pier 1, Bay 3, San Francisco, California 94111, and our telephone number is (415) 283-4000. Our website is www.patternenergy.com.
We make our periodic reports and other information filed with or furnished to the U.S. Securities and Exchange Commission, or “SEC,”
or Canadian Securities Administrators available, free of charge, through our website, as soon as reasonably practicable after those
reports and other information are electronically filed with or furnished to the SEC or Canadian Securities Administrators. Except
as specifically noted, information on our website is not incorporated by reference into this prospectus and does not constitute
a part of this prospectus.
Risk Factors
You should carefully consider all of the
information in this prospectus, and, in particular, you should evaluate the specific risk factors incorporated by reference herein
and included or incorporated by reference in any applicable prospectus supplement.
About this
Prospectus
This prospectus is part of a registration
statement that we filed with the SEC utilizing a “shelf” registration process. Under this shelf process, we may sell
any combination of the securities described in this prospectus in one or more offerings. In addition, certain selling securityholders
to be identified in supplements to this prospectus may offer and sell these securities from time to time. This prospectus provides
you with a general description of the securities we or a selling securityholder may offer. Each time we or selling securityholders
offer and sell any of the securities described in this prospectus, we will provide a prospectus supplement along with this prospectus
that will contain specific information about the terms of that particular offering by us or the selling securityholders. The accompanying
prospectus supplement may also add, update or change information contained in this prospectus. If the information varies between
this prospectus and the accompanying prospectus supplement, you should rely on the information in the accompanying prospectus supplement.
You should read both this prospectus and the accompanying prospectus supplement together with the additional information described
under “Where You Can Find More Information.” You should also carefully consider, among other things, the matters discussed
in the section entitled “Risk Factors.”
Where You
Can Find More Information
We file annual, quarterly and current reports,
proxy statements and other information with the SEC. You may read and copy any document that we file at the Public Reference Room
of the SEC at 100 F Street, N.E., Washington, D.C. 20549. You may obtain information on the operation of the Public Reference Room
by calling the SEC at 1-800-SEC-0330. The SEC also maintains a website at www.sec.gov, from which interested persons can electronically
access our SEC filings, including the registration statement and the exhibits and schedules thereto. In addition, the Canadian
Securities Administrators maintains the System for Electronic Document Analysis and Retrieval, or “SEDAR,” website
at www.sedar.com, from which you can obtain reports, proxy and information statements and other information relating to us, including
any Canadian prospectus.
The SEC allows us to “incorporate
by reference” the information we file with them, which means that we can disclose important information to you by referring
you to those documents. The information incorporated by reference is an important part of this prospectus, and information that
we file later with the SEC will automatically update and supersede this information. We incorporate by reference the documents
listed below, filed with the SEC or similar authorities in the provinces and territories of Canada, and all documents we file pursuant
to Section 13(a), 13(c), 14, or 15(d) of the Securities Exchange Act of 1934, as amended, on or after the date of this prospectus
and prior to the termination of the offering under this prospectus and any prospectus supplement (other than, in each case, documents
or information deemed to have been furnished and not filed in accordance with SEC rules):
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a)
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Our Annual Report on Form 10-K for the fiscal year ended December 31, 2016 filed with the SEC on March 1, 2017 (“2016
Form 10-K”);
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b)
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Our Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2017 and June 30, 2017, filed with the SEC on May
9, 2017 and August 9, 2017;
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c)
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Our Current Reports on Form 8-K filed with the SEC on May 9, 2016, January 17, 2017, January 20, 2017, January
25, 2017,
April 27, 2017, June 5, 2017, June 19, 2017, August 2, 2017 and
August 14, 2017;
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d)
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The information specifically incorporated by reference into the 2016 Form 10-K from our Definitive Proxy Statement on Schedule
14A filed with the SEC on April 17, 2017 (“2017 Proxy Statement”);
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f)
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The description of our Class A common stock contained in our Registration Statement on Form 8-A, filed with the SEC on September
24, 2013; and
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g)
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The description of our Class A common stock issued under our 2013 Equity Incentive Award Plan contained in our Registration
Statement on Form S-8, filed with the SEC on October 9, 2013.
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You may request a copy of these filings
at no cost, by writing or telephoning the office of the Corporate Secretary of Pattern Energy at Pier 1, Bay 3, San Francisco,
CA, telephone 415-283-4000.
Special
Note on Forward-Looking Statements
This prospectus, including the documents
incorporated by reference herein, contains statements that may constitute forward-looking statements. You can identify these statements
by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,”
“expect,” “intend,” “may,” “plan,” “potential,” “should,”
“will,” “would,” or similar words. You should read statements that contain these words carefully because
they discuss our current plans, strategies, prospects, and expectations concerning our business, operating results, financial condition,
and other similar matters. While we believe that these forward-looking statements are reasonable as and when made, there may be
events in the future that we are not able to predict accurately or control, and there can be no assurance that future developments
affecting our business will be those that we anticipate. Our forward-looking statements involve significant risks and uncertainties
(some of which are beyond our control) and assumptions that could cause actual results to differ materially from our historical
experience and our present expectations or projections. Important factors that could cause our actual results to differ materially
from those in the forward-looking statements, include but are not limited to, those described in the section entitled “Risk
Factors” in our 2016 Form 10-K and our Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2017 and June
30, 2017, filed with the SEC on May 9, 2017 and August 9, 2017, respectively. All written and oral forward-looking statements attributable
to us, or persons acting on our behalf, are expressly qualified in their entirety by the cautionary statements in this prospectus
as well as other cautionary statements that are made from time to time in our other filings with the SEC and applicable Canadian
securities regulatory authorities or public communications. You should evaluate all forward-looking statements made in this prospectus
in the context of these risks and uncertainties.
Although we believe the expectations reflected
in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance or achievements.
Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking
statements. We are under no duty to update any of these forward-looking statements after the date of this prospectus to conform
our prior statements to actual results or revised expectations. These forward-looking statements are subject to numerous risks
and uncertainties, including, but not limited to:
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our ability to complete acquisitions of power projects;
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our ability to complete construction of our construction projects and transition them into financially successful operating
projects;
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fluctuations in supply, demand, prices and other conditions for electricity, other commodities and renewable energy credits;
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our electricity generation, our projections thereof and factors affecting production, including wind and other conditions,
other weather conditions, availability and curtailment;
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changes in law, including applicable tax laws;
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public response to and changes in the local, state, provincial and federal regulatory framework affecting renewable energy
projects, including the U.S. federal production tax credit, investment tax credit and potential reductions in renewable portfolio
standards requirements;
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the ability of our counterparties to satisfy their financial commitments or business obligations;
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the availability of financing, including tax equity financing, for our power projects;
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an increase in interest rates;
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our substantial short-term and long-term indebtedness, including additional debt in the future;
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competition from other power project developers;
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development constraints, including the availability of interconnection and transmission;
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potential environmental liabilities and the cost and conditions of compliance with applicable environmental laws and regulations;
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our ability to operate our business efficiently, manage capital expenditures and costs effectively and generate cash flow;
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our ability to retain and attract executive officers and key employees;
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our ability to keep pace with and take advantage of new technologies;
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the effects of litigation, including administrative and other proceedings or investigations, relating to our wind power projects
under construction and those in operation;
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conditions in energy markets as well as financial markets generally, which will be affected by interest rates, foreign currency
exchange rate fluctuations and general economic conditions;
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the effectiveness of our currency risk management program;
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the effective life and cost of maintenance of our wind turbines and other equipment;
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the increased costs of, and tariffs on, spare parts;
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scarcity of necessary equipment;
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negative public or community response to wind power projects;
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the value of collateral in the event of liquidation; and
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other factors discussed under “Risk Factors.”
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Risk Factors
Investment in our securities involves a
high degree of risk. You should consider carefully the risk factors discussed in the sections entitled “Risk Factors”
contained in our 2016 Form 10-K, our Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2017 and June 30, 2017,
filed with the SEC on May 9, 2017 and August 9, 2017, respectively, and in any Annual Report on Form 10-K and Quarterly Report
on Form 10-Q filed subsequent hereto, each of which is incorporated herein by reference in its entirety, as well as other information
in or incorporated by reference in this prospectus and any prospectus supplement, before purchasing any of our securities. Each
of these risk factors could adversely affect our business, operating results and financial condition, as well as adversely affect
the value of an investment in our securities.
Use of Proceeds
Unless otherwise indicated in a prospectus
supplement, the net proceeds from the sale of the securities offered by us in this prospectus will be used for general corporate
purposes, including working capital, acquisitions, retirement of debt and other business purposes. We may also invest the proceeds
in certificates of deposit, United States government securities or certain other interest-bearing securities. If we decide to use
the net proceeds from a particular offering of securities for a specific purpose other than as set forth above, we will describe
that in the related prospectus supplement.
We will not receive any proceeds from the
sale of the securities by any selling securityholder.
Ratio of
Earnings to Fixed Charges
The following table sets forth our ratio
of earnings to fixed charges for the periods indicated. The ratio of earnings to fixed charges was calculated by dividing earnings
by fixed charges. Earnings were calculated by adding (1) pre-tax income from continuing operations before adjustment for noncontrolling
interests and earnings/losses from equity investees and (2) fixed charges excluding capitalized interest. Fixed charges were calculated
by adding (1) interest expense (whether expensed or capitalized), and (2) amortization of capitalized expenses related to indebtedness.
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Year Ended December 31,
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Six
Months Ended
June 30, 2017
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2016
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2015
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2014
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2013
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2012
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—(2)
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—(2)
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—(2)
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—(2)
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1.1
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—(1)(2)
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(1) Pattern Energy Group Inc. was incorporated in October 2012. The historical financial data used to determine our ratio
of earnings to fixed charges for the year ended December 31, 2012 have been derived from the audited combined financial statements
of our predecessor.
(2) Earnings were inadequate to cover fixed charges by $33.6 million for the six months ended June 30,
2017, $72.6 million for the year ended December 31, 2016, $71.2 million for the year ended December 31, 2015, $11.1 million
for the year ended December 31, 2014 and $25.7 million for the year ended December 31, 2012.
Description
of Capital Stock
The following description of our capital
stock is a summary of the material terms of our amended and restated certificate of incorporation (“Certificate of Incorporation”),
our amended and restated bylaws (“Bylaws”) and applicable provisions of law. We have summarized certain portions of
the Certificate of Incorporation and Bylaws below. The summary is not complete. The Certificate of Incorporation and Bylaws are
incorporated by reference as exhibits to the registration statement of which this prospectus forms a part. You should read the
Certificate of Incorporation and Bylaws for the provisions that are important to you.
General
Our authorized capital stock consists of
500,000,000 shares of Class A common stock, par value $0.01 per share, 20,000,000 shares of Class B common stock, par value $0.01
per share and 100,000,000 shares of preferred stock, par value $0.01 per share. All outstanding Class B shares converted into Class
A shares on a one-for-one basis on December 31, 2014. Our Certificate of Incorporation provides that such Class B shares were retired
and we are no longer authorized to issue shares of Class B common stock.
Class A Shares
As of August 9, 2017, there were
87,637,816 shares of Class A common stock outstanding.
Holders of Class A shares are entitled
to one vote for each share held of record on all matters submitted to a vote of the shareholders, including the election of directors.
There is no cumulative voting in the election of directors, which means that holders of a majority of the outstanding Class A shares
are able to elect all of the directors, and holders of less than a majority of such shares will be unable to elect any director.
Under our Certificate of Incorporation, subject to preferences that may be applicable to any outstanding shares of preferred stock,
holders of Class A shares are entitled to receive ratably such dividends, if any, as may be declared from time to time by our board
of directors out of funds legally available for dividend payments. Our revolving credit facility imposes restrictions on certain
of our project subsidiaries’ ability to distribute funds to us. See “Management’s Discussion & Analysis of
Financial Condition and Results of Operations—Covenants, Distribution Conditions and Events of Default—Corporate-Level
Debt—Revolving Credit Facility” in our 2016 Form 10-K. The holders of Class A shares have no preferences or rights
of conversion, exchange, pre-emption or other subscription rights. There are no redemption or sinking fund provisions applicable
to the Class A shares. In the event of any liquidation, dissolution or winding-up of our affairs, holders of Class A shares will
be entitled to share ratably in our assets that are remaining after payment or provision for payment of all of our debts and obligations
and after liquidation payments to holders of outstanding shares of preferred stock, if any.
Preferred Shares
As of August 9, 2017, there were
no shares of preferred stock outstanding.
Our Certificate of Incorporation authorizes
the issuance of blank check preferred stock, which, if issued, would have priority over the shares of common stock with respect
to dividends and other distributions, including the distribution of our assets upon liquidation. Unless required by law or by applicable
stock exchanges, our board of directors has the authority without further shareholder authorization to issue from time to time
shares of preferred stock in one or more series and to fix the terms, limitations, relative rights and preferences and variations
of each series. Although we have no present plans to issue any shares of preferred stock, the issuance of shares of preferred stock,
or the issuance of rights to purchase such shares, could decrease the amount of earnings and assets available for distribution
to the holders of Class A shares, could adversely affect the rights and powers, including voting rights, of the holders of shares
of our common stock, and could have the effect of delaying, deterring or preventing a change in control of us or an unsolicited
acquisition proposal.
Provisions of Our Certificate of Incorporation, Bylaws
and Delaware Law that May Have an Anti-Takeover Effect
Certificate of Incorporation and Bylaws
Our Certificate of Incorporation and Bylaws
contain certain provisions that could discourage, delay or prevent a change in control of our company or changes in our management
that the shareholders of our company may deem advantageous. Among other things, these provisions include those that would:
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authorize the issuance of blank check preferred stock that our board of directors could issue to increase the number of outstanding
shares and to discourage a takeover attempt;
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prohibit our shareholders from calling a special meeting of shareholders if Pattern Energy Group LP, or “Pattern Development”,
and its affiliates (other than our company) collectively cease to own more than 50% of our shares;
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prohibit shareholder action by written consent, which requires all shareholder actions to be taken at a meeting of our shareholders
if Pattern Development and its affiliates (other than our company) collectively cease to own more than 50% of our shares;
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provide that the board of directors is expressly authorized to adopt, or to alter or repeal our bylaws; and
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establish advance notice requirements for nominations for election to our board of directors or for proposing matters that
can be acted upon by shareholders at shareholder meetings.
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As of May 14, 2014, Pattern Development
and its affiliates (other than our company) collectively ceased to own more than 50% of our shares.
The foregoing provisions of our Certificate
of Incorporation and Bylaws could discourage potential acquisition proposals and could delay or prevent a change in control. These
provisions are intended to enhance the likelihood of continuity and stability in the composition of the board of directors and
in the policies formulated by the board of directors and to discourage certain types of transactions that may involve an actual
or threatened change of control. These provisions are designed to reduce our vulnerability to an unsolicited acquisition proposal.
The provisions also are intended to discourage certain tactics that may be used in proxy fights. However, such provisions could
have the effect of discouraging others from making tender offers for our shares and, as a consequence, they also may inhibit fluctuations
in the market price of our shares of common stock that could result from actual or rumored takeover attempts. Such provisions also
may have the effect of preventing changes in our management.
Delaware Takeover Statute
Subject to certain exceptions, Section
203 of the Delaware General Corporation Law, or “DGCL,” prohibits a Delaware corporation from engaging in any “business
combination” (as defined below) with any “interested shareholder” (as defined below) for a period of three years
following the date that such shareholder became an interested shareholder, unless: (1) prior to such date, the board of directors
of the corporation approved either the business combination or the transaction that resulted in the shareholder becoming an interested
shareholder; (2) on consummation of the transaction that resulted in the shareholder becoming an interested shareholder, the interested
shareholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding
for purposes of determining the number of shares outstanding those shares owned (x) by persons who are directors and also officers
and (y) by employee stock plans in which employee participants do not have the right to determine confidentially whether shares
held subject to the plan will be tendered in a tender or exchange offer; or (3) on or subsequent to such date, the business combination
is approved by the board of directors and authorized at an annual or special meeting of shareholders, and not by written consent,
by the affirmative vote of at least 66 2/3% of the outstanding voting stock that is not owned by the interested shareholder.
In our Certificate of Incorporation, we
have elected not to be governed by Section 203 of the DGCL, as permitted under and pursuant to subsection (b)(3) of Section 203.
Section 203 of the DGCL defines “business combination” to include: (1) any merger or consolidation involving the corporation
and the interested shareholder; (2) any sale, transfer, pledge or other disposition of 10% or more of the assets of the corporation
involving the interested shareholder; (3) subject to certain exceptions, any transaction that results in the issuance or transfer
by the
corporation of any stock of the corporation
to the interested shareholder; (4) any transaction involving the corporation that has the effect of increasing the proportionate
share of the stock of any class or series of the corporation beneficially owned by the interested shareholder; or (5) the receipt
by the interested shareholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided by
or through the corporation. In general, Section 203 defines an “interested shareholder” as any entity or person beneficially
owning 15% or more of the outstanding voting stock of the corporation and any entity or person affiliated with or controlling or
controlled by such entity or person.
Corporate Opportunity
Subject to the terms of the Second Amended
and Restated Non-Competition Agreement with and our Purchase Rights granted to us by Pattern Development and Pattern Energy Group
2 LP (see “Certain Relationships and Related Party Transactions” in our 2017 Proxy Statement and our Current Report
on Form 8-K filed with the SEC on June 19, 2017), we have expressly renounced any interest or expectancy in, or in being offered
an opportunity to participate in, any business opportunity that may be from time to time presented to Riverstone Holdings LLC,
or any of its respective officers, directors, agents, shareholders, members, partners, affiliates and subsidiaries or business
opportunities that such parties participate in or desire to participate in, even if the opportunity is one that we might reasonably
have pursued or had the ability or desire to pursue if granted the opportunity to do so, and no such person shall be liable to
us for breach of any fiduciary or other duty, as a director or controlling shareholder or otherwise, by reason of the fact that
such person pursues or acquires any such business opportunity, directs any such business opportunity to another person or fails
to present any such business opportunity, or information regarding any such business opportunity, to us, unless, in the case of
any such person who is our director, any such business opportunity is expressly offered to such director in writing solely in his
or her capacity as our director.
Exchange Listing
Our Class A shares are listed on the NASDAQ
Global Select Market and on the Toronto Stock Exchange under the symbol “PEGI.”
Transfer Agent and Registrar
We have appointed Computershare Trust Company,
N.A. (including its affiliates in Canada) as the transfer agent and registrar for our shares of Class A common stock.
Description
of Debt Securities
This section describes the general terms
and provisions of the debt securities that we may issue. We may offer secured or unsecured debt securities which may be senior,
subordinated or junior subordinated, and which may be convertible. The debt securities will be issued under one or more separate
indentures between us and a designated trustee. The applicable prospectus supplement and/or other offering materials will describe
the specific terms of the debt securities offered through that prospectus supplement as well as any general terms described in
this section that will not apply to those debt securities. To the extent the applicable prospectus supplement or other offering
materials relating to an offering of debt securities are inconsistent with this prospectus, the terms of that prospectus supplement
or other offering materials will supersede the information in this prospectus.
The prospectus supplement relating to any
series of debt securities that we may offer will contain the specific terms of the debt securities. These terms may include the
following:
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·
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the title and principal aggregate amount of the debt securities;
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·
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whether the debt securities will be senior, subordinated or junior subordinated;
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whether the debt securities will be secured or unsecured;
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whether the debt securities are convertible or exchangeable into other securities;
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the percentage or percentages of principal amount at which such debt securities will be issued;
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·
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the interest rate(s) or the method for determining the interest rate(s);
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the dates on which interest will accrue or the method for determining dates on which interest will accrue and dates on which
interest will be payable;
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the person to whom any interest on the debt securities will be payable;
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the places where payments on the debt securities will be payable;
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redemption or early repayment provisions;
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authorized denominations;
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·
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amount of discount or premium, if any, with which such debt securities will be issued;
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whether such debt securities will be issued in whole or in part in the form of one or more global securities;
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the identity of the depositary for global securities;
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whether a temporary security is to be issued with respect to such series and whether any interest payable prior to the issuance
of definitive securities of the series will be credited to the account of the persons entitled thereto;
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the terms upon which the beneficial interests in a temporary global security may be exchanged in whole or in part for beneficial
interests in a definitive global security or for individual definitive securities;
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any covenants applicable to the particular debt securities being issued;
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any defaults and events of default applicable to the particular debt securities being issued;
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the guarantors of each series, if any, and the extent of the guarantees (including provisions relating to seniority, subordination,
security and release of the guarantees), if any;
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any applicable subordination provisions for any subordinated debt securities;
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any restriction or condition on the transferability of the debt securities;
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the currency, currencies, or currency units in which the purchase price for, the principal of and any premium and any interest
on, such debt securities will be payable;
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the time period within which, the manner in which and the terms and conditions upon which we or the purchaser of the debt securities
can select the payment currency;
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the securities exchange(s) on which the securities will be listed, if any;
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whether any underwriter(s) will act as market maker(s) for the securities;
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the extent to which a secondary market for the securities is expected to develop;
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our obligations or right to redeem, purchase or repay debt securities under a sinking fund, amortization or analogous provision;
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provisions relating to covenant defeasance and legal defeasance;
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provisions relating to satisfaction and discharge of the indenture;
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provisions relating to the modification of the indenture both with and without consent of holders of debt securities issued
under the indenture;
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the law that will govern the indenture and debt securities; and
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additional terms not inconsistent with the provisions of the indenture.
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General
We may sell the debt securities, including
original issue discount securities, at par or at a substantial discount below their stated principal amount. Unless we inform you
otherwise in a prospectus supplement, we may issue additional debt securities of a particular series without the consent of the
holders of the debt securities of such series outstanding at the time of issuance. Any such additional debt securities, together
with all other outstanding debt securities of that series, will constitute a single series of securities under the applicable indenture.
In addition, we will describe in the applicable prospectus supplement material U.S. federal income tax considerations and any other
special considerations for any debt securities we sell which are denominated in a currency or currency unit other than U.S. dollars.
Unless we inform you otherwise in the applicable prospectus supplement, the debt securities will not be listed on any securities
exchange.
We expect most debt securities to be issued
in fully registered form without coupons and in denominations of $1,000 and integral multiples thereof. Subject to the limitations
provided in the indenture and in the prospectus supplement, debt securities that are issued in registered form may be transferred
or exchanged at the corporate office of the trustee or the principal corporate trust office of the trustee, without the payment
of any service charge, other than any tax or other governmental charge payable in connection therewith.
If specified in the applicable prospectus
supplement, certain of our subsidiaries will guarantee the debt securities. The particular terms of any guarantee will be described
in the related prospectus supplement.
Global Securities
Unless we inform you otherwise in the applicable
prospectus supplement, the debt securities of a series may be issued in whole or in part in the form of one or more global securities
that will be deposited with, or on behalf of, a depositary identified in the applicable prospectus supplement. Global securities
will be issued in registered form and
in either temporary or definitive form. Unless
and until it is exchanged in whole or in part for the individual debt securities, a global security may not be transferred except
as a whole by the depositary for such global security to a nominee of such depositary or by a nominee of such depositary to such
depositary or another nominee of such depositary or by such depositary or any such nominee to a successor of such depositary or
a nominee of such successor. The specific terms of the depositary arrangement with respect to any debt securities of a series and
the rights of and limitations upon holders of beneficial interests in a global security will be described in the applicable prospectus
supplement.
Description
of Warrants
We may issue warrants to purchase our debt
or equity securities or securities of third parties or other rights, including rights to receive payment in cash or securities
based on the value, rate or price of one or more specified commodities, currencies, securities or indices, or any combination of
the foregoing. Warrants may be issued independently or together with any other securities and may be attached to, or separate from,
such securities. Each series of warrants will be issued under a separate warrant agreement to be entered into between us and a
warrant agent. The terms of any warrants to be issued and a description of the material provisions of the applicable warrant agreement
will be set forth in the applicable prospectus supplement.
Description
of Purchase Contracts
We may issue purchase contracts for the
purchase or sale of:
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·
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debt or equity securities issued by us or securities of third parties, a basket of such securities, an index or indices of
such securities or any combination of the above as specified in the applicable prospectus supplement;
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Each purchase contract will entitle the
holder thereof to purchase or sell, and obligate us to sell or purchase, on specified dates, such securities, currencies or commodities
at a specified purchase price, which may be based on a formula, all as set forth in the applicable prospectus supplement. We may,
however, satisfy our obligations, if any, with respect to any purchase contract by delivering the cash value of such purchase contract
or the cash value of the property otherwise deliverable or, in the case of purchase contracts on underlying currencies, by delivering
the underlying currencies, as set forth in the applicable prospectus supplement. The applicable prospectus supplement will also
specify the methods by which the holders may purchase or sell such securities, currencies or commodities and any acceleration,
cancellation or termination provisions or other provisions relating to the settlement of a purchase contract.
Any purchase contracts we may issue may
require us to make periodic payments to the holders thereof or vice versa, which payments may be deferred to the extent set forth
in the applicable prospectus supplement, and those payments may be unsecured or prefunded on some basis. The purchase contracts
may require the holders thereof to secure their obligations in a specified manner to be described in the applicable prospectus
supplement. Alternatively, purchase contracts may require holders to satisfy their obligations thereunder when the purchase contracts
are issued. Our obligation to settle such pre-paid purchase contracts on the relevant settlement date may constitute indebtedness.
Accordingly, pre-paid purchase contracts will be issued under an indenture.
Description
of Subscription Receipts
From time to time, subscription receipts
may be offered and sold under this prospectus. A subscription receipt may entitle the holder to acquire, for no additional consideration,
shares of our Class A common stock or preferred stock. Subscription receipts may be offered separately or together with other securities.
The subscription receipts will be issued under a subscription receipt agreement with a subscription receipt agent.
The applicable prospectus supplement will
include details of the subscription receipt agreement covering the subscription receipts being offered. The following sets forth
certain general terms and provisions of the subscription receipts offered under this prospectus.
The specific terms of the subscription
receipts, and the extent to which the general terms described in this section apply to those subscription receipts, will be set
forth in the applicable prospectus supplement. The particular terms of each issue of subscription receipts will be described in
the related prospectus supplement. This description will include, where applicable:
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the number of subscription receipts;
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the price at which the subscription receipts will be offered;
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the procedure for the exchange or exercise of the subscription receipts for shares of our Class A common stock or preferred
stock;
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the number of shares that may be acquired upon exchange or exercise of each subscription receipt;
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the designation and terms of any other securities with which the subscription receipts will be offered, if any, and the number
of subscription receipts that will be offered with each security;
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terms applicable to the gross proceeds from the sale of the subscription receipts plus any interest earned thereon;
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material tax consequences of owning the subscription receipts; and
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any other material terms and conditions of the subscription receipts.
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Description
of Units
As specified in the applicable prospectus
supplement, we may issue units consisting of one or more purchase contracts, warrants, debt securities, shares of preferred stock,
shares of Class A common stock, subscription receipts or any combination of such securities. The applicable prospectus supplement
will describe:
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the terms of the units and of the purchase contracts, warrants, debt securities, preferred stock, Class A common stock and/or
subscription receipts comprising the units, including whether and under what circumstances the securities comprising the units
may be traded separately;
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·
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a description of the terms of any unit agreement governing the units; and
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a description of the provisions for the payment, settlement, transfer or exchange of the units.
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Forms of
Securities
Each debt security, warrant, subscription
receipt and unit will be represented either by a certificate issued in definitive form to a particular investor or by one or more
global securities representing the entire issuance of securities. Certificated securities in definitive form and global securities
will be issued in registered form. Definitive securities name you or your nominee as the owner of the security, and in order to
transfer or exchange these securities or to receive payments other than interest or other interim payments, you or your nominee
must physically deliver the securities to the trustee, registrar, paying agent or other agent, as applicable. Global securities
name a depositary or its nominee as the owner of the debt security, warrant, subscription receipt or unit represented by these
global securities. The depositary maintains a computerized system that will reflect each investor’s beneficial ownership
of the securities through an account maintained by the investor with its broker/dealer, bank, trust company or other representative,
as we explain more fully below.
Global Securities
Registered Global Securities
. We
may issue the registered debt securities, warrants, subscription receipts and units in the form of one or more fully registered
global securities that will be deposited with a depositary or its nominee identified in the applicable prospectus supplement and
registered in the name of that depositary or nominee. In those cases, one or more registered global securities will be issued in
a denomination or aggregate denominations equal to the portion of the aggregate principal or face amount of the securities to be
represented by registered global securities. Unless and until it is exchanged in whole for securities in definitive registered
form, a registered global security may not be transferred except as a whole by and among the depositary for the registered global
security, the nominees of the depositary or any successors of the depositary or those nominees.
If not described below, any specific terms
of the depositary arrangement with respect to any securities to be represented by a registered global security will be described
in the prospectus supplement relating to those securities. We anticipate that the following provisions will apply to all depositary
arrangements.
Ownership of beneficial interests in a
registered global security will be limited to persons, called participants, that have accounts with the depositary or persons that
may hold interests through participants. Upon the issuance of a registered global security, the depositary will credit, on its
book-entry registration and transfer system, the participants’ accounts with the respective principal or face amounts of
the securities beneficially owned by the participants. Any dealers, underwriters or agents participating in the distribution of
the securities will designate the accounts to be credited. Ownership of beneficial interests in a registered global security will
be shown on, and the transfer of ownership interests will be effected only through, records maintained by the depositary, with
respect to interests of participants, and on the records of participants, with respect to interests of persons holding through
participants. The laws of some states may require that some purchasers of securities take physical delivery of these securities
in definitive form. These laws may impair your ability to own, transfer or pledge beneficial interests in registered global securities.
So long as the depositary, or its nominee,
is the registered owner of a registered global security, that depositary or its nominee, as the case may be, will be considered
the sole owner or holder of the securities represented by the registered global security for all purposes under the applicable
indenture, warrant agreement, subscription receipt agreement or unit agreement. Except as described below, owners of beneficial
interests in a registered global security will not be entitled to have the securities represented by the registered global security
registered in their names, will not receive or be entitled to receive physical delivery of the securities in definitive form and
will not be considered the owners or holders of the securities under the applicable indenture, warrant agreement, subscription
receipt agreement or unit agreement. Accordingly, each person owning a beneficial interest in a registered global security must
rely on the procedures of the depositary for that registered global security and, if that person is not a participant, on the procedures
of the participant through which the person owns its interest, to exercise any rights of a holder under the applicable indenture,
warrant agreement, subscription receipt agreement or unit agreement. We understand that under existing industry practices, if we
request any action of holders or if an owner of a beneficial interest in a registered global security desires to give or take any
action that a holder is entitled to give or take under the applicable indenture, warrant agreement, subscription receipt agreement
or unit agreement, the depositary for the registered global security would authorize the participants holding the relevant beneficial
interests to give or take that action, and the participants would authorize beneficial owners owning through them to give or take
that action or would otherwise act upon the instructions of beneficial owners holding through them.
Principal, premium, if any, and interest
payments on debt securities, and any payments to holders with respect to warrants, subscription receipts or units, represented
by a registered global security registered in the name of a depositary or its nominee will be made to the depositary or its nominee,
as the case may be, as the registered owner of the registered global security. None of Pattern Energy, the trustees, the warrant
agents, the subscription receipt agents, the unit agents or any other agent of Pattern Energy, agent of the trustees or agent of
the warrant agents, subscription receipt agents or unit agents will have any responsibility or liability for any aspect of the
records relating to payments made on account of beneficial ownership interests in the registered global security or for maintaining,
supervising or reviewing any records relating to those beneficial ownership interests.
We expect that the depositary for any of
the securities represented by a registered global security, upon receipt of any payment of principal, premium, interest or other
distribution of underlying securities or other property to holders on that registered global security, will immediately credit
participants’ accounts in amounts proportionate to their respective beneficial interests in that registered global security
as shown on the records of the depositary. We
also expect that payments by participants
to owners of beneficial interests in a registered global security held through participants will be governed by standing customer
instructions and customary practices, as is now the case with the securities held for the accounts of customers in bearer form
or registered in “street name,” and will be the responsibility of those participants.
If the depositary for any of these securities
represented by a registered global security is at any time unwilling or unable to continue as depositary or ceases to be a clearing
agency registered under the Securities Exchange Act of 1934 or registered or recognized under applicable Canadian securities laws,
if applicable, and a successor depositary registered as a clearing agency under the Securities Exchange Act of 1934 or registered
or recognized under applicable Canadian securities laws, if applicable, is not appointed by us within 90 days, we will issue securities
in definitive form in exchange for the registered global security that had been held by the depositary. Any securities issued in
definitive form in exchange for a registered global security will be registered in the name or names that the depositary gives
to the relevant trustee, warrant agent, subscription receipt agent, unit agent or other relevant agent of ours or theirs. It is
expected that the depositary’s instructions will be based upon directions received by the depositary from participants with
respect to ownership of beneficial interests in the registered global security that had been held by the depositary.
Plan of
Distribution
We and/or the selling securityholders,
if applicable, may sell the securities in one or more of the following ways (or in any combination) from time to time:
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through underwriters or dealers;
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directly to a limited number of purchasers or to a single purchaser; or
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The prospectus supplement will state the
terms of the offering of the securities, including:
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the name or names of any underwriters, dealers or agents;
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the purchase price of such securities and the proceeds to be received by us, if any;
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any underwriting discounts or agency fees and other items constituting underwriters’ or agents’ compensation;
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any public offering price;
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any discounts or concessions allowed or reallowed or paid to dealers; and
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any securities exchanges on which the securities may be listed.
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Any public offering price and any discounts
or concessions allowed or reallowed or paid to dealers may be changed from time to time.
If we and/or the selling securityholders,
if applicable, use underwriters in the sale, the securities will be acquired by the underwriters for their own account and may
be resold from time to time in one or more transactions, including:
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negotiated transactions;
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at a fixed public offering price or prices, which may be changed;
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at market prices prevailing at the time of sale;
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at prices related to prevailing market prices; or
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Unless otherwise stated in a prospectus
supplement, the obligations of the underwriters to purchase any securities will be conditioned on customary closing conditions
and the underwriters will be obligated to purchase all of such series of securities, if any are purchased.
We and/or the selling securityholders,
if applicable, may sell the securities through agents from time to time. The prospectus supplement will name any agent involved
in the offer or sale of the securities and any commissions we pay to them. Generally, any agent will be acting on a best efforts
basis for the period of its appointment.
We and/or the selling securityholders,
if applicable, may authorize underwriters, dealers or agents to solicit offers by certain purchasers to purchase the securities
from us at the public offering price set forth in the prospectus supplement pursuant to delayed delivery contracts providing for
payment and delivery on a specified date in the future. The contracts will be subject only to those conditions set forth in the
prospectus supplement, and the prospectus supplement will set forth any commissions we pay for solicitation of these contracts.
Underwriters and agents may be entitled
under agreements entered into with us and/or the selling securityholders, if applicable, to indemnification by us and/or the selling
securityholders, if applicable, against
certain civil liabilities, including liabilities
under the Securities Act of 1933 and/or applicable Canadian securities laws, or to contribution with respect to payments which
the underwriters or agents may be required to make. Underwriters and agents may be customers of, engage in transactions with, or
perform services for us and our affiliates in the ordinary course of business.
Each series of securities other than the
Class A common stock, which is listed on the NASDAQ Global Select Market and on the Toronto Stock Exchange under the symbol “PEGI,”
and any series of debt securities outstanding on the date hereof, will be a new issue of securities and will have no established
trading market. Any underwriters to whom securities are sold for public offering and sale may make a market in the securities,
but such underwriters will not be obligated to do so and may discontinue any market making at any time without notice. The securities,
other than the Class A common stock, may or may not be listed on a national securities exchange.
Validity
of Securities
The validity of the securities in respect
of which this prospectus is being delivered will be passed on for us and/or the selling securityholders, if applicable, by Davis
Polk & Wardwell LLP, New York, New York.
Experts
The consolidated financial statements of Pattern Energy Group
Inc. appearing in Pattern Energy Group Inc.’s 2016 Annual Report (Form 10-K) for the year ended December 31, 2016 (including
the schedule appearing therein), and the effectiveness of Pattern Energy Group Inc.’s internal control over financial reporting
as of December 31, 2016 and the financial statements of K2 Wind Ontario Limited Partnership appearing in Pattern Energy
Group Inc.’s 2016 Form 10-K for the year ended December 31, 2016 have been audited by Ernst & Young LLP, independent
registered public accounting firm, as set forth in its reports thereon, which conclude, among other things, that Pattern Energy
Group Inc. did not maintain effective internal control over financial reporting as of December 31, 2016, based on Internal Control
– Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework) because
of the effects of the material weaknesses described there in, included therein, and incorporated herein by reference, which,
as to the years 2016 2015 and 2014, are based in part on the reports of other auditors. The financial statements referred to above
have been included in reliance upon such reports given on the authority of such firm as experts in accounting and auditing. Such
financial statements are incorporated herein by reference in reliance upon such reports given on the authority of such firm as
experts in accounting and auditing.
The financial statements of South Kent LP,
Grand Renewable Wind LP and SP Armow Wind Ontario LP, included in Pattern Energy Group Inc.’s Annual Report on Form 10-K
for the year ended December 31, 2016, incorporated by reference herein, have been audited by PricewaterhouseCoopers LLP, independent
auditors, as stated in their report appearing therein.
PART II
INFORMATION NOT REQUIRED IN PROSPECTUS
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Item 14.
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Other Expenses of Issuance and Distribution
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The following table sets forth the costs
and expenses payable by the Registrant in connection with the sale of the securities being registered hereby.
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Amount
to
Be Paid
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Registration fee
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$
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*
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FINRA filing fee
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**
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Printing
|
|
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**
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Legal fees and expenses
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**
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Accounting fees and expenses
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**
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Trustee fees
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**
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Transfer agent and registrar fees
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**
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Miscellaneous
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**
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TOTAL
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$
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**
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*
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Omitted in reliance on Rule 456(b) and Rule 457(r) because the registration fee is being deferred pursuant to Rule
456(b). Pursuant to Rule 415(a)(6) under the Securities Act, the filing fees that were paid in connection with
the unsold securities previously covered by Registration Statement No. 333-199217 will continue to be applied to such unsold securities
pursuant to this registration statement.
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Item 15.
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Indemnification of Directors and Officers
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Section 145 of the DGCL provides that a
corporation may indemnify any person, including an officer or director, who is, or is threatened to be made, party to any threatened,
pending or completed legal action, suit or proceeding, whether civil, criminal, administrative or investigative, other than an
action by or in the right of such corporation, by reason of the fact that such person was an officer, director, employee or agent
of such corporation or is or was serving at the request of such corporation as a director, officer, employee or agent of another
corporation or enterprise. The indemnity may include expenses (including attorneys’ fees), judgments, fines and amounts paid
in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding, provided such
officer, director, employee or agent acted in good faith and in a manner he reasonably believed to be in, or not opposed to, our
company’s best interest and, for criminal proceedings, had no reasonable cause to believe that his conduct was unlawful.
A Delaware corporation may indemnify any officer or director in an action by or in the right of the corporation under the same
conditions, except that no indemnification is permitted without judicial approval if the officer or director is adjudged to be
liable to the corporation. Where an officer or director is successful on the merits or otherwise in the defense of any action referred
to above, the corporation must indemnify him against the expenses that such officer or director actually and reasonably incurred.
If a claim for indemnification or advancement of expenses is not paid in full in accordance with our amended and restated bylaws,
the officer or director is entitled to file suit to recover the unpaid amount of such claim.
Section 102(b)(7) of the DGCL permits a
corporation to provide in its certificate of incorporation that a director of the corporation shall not be personally liable to
the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except for liability (i) for
any breach of the director’s duty of loyalty to the corporation or its stockholders, (ii) for acts or omissions not in good
faith or which involve intentional misconduct or a knowing violation of law, (iii) for unlawful payments of dividends or unlawful
stock repurchases, redemptions or other distributions, or (iv) for any transaction from which the director derived an improper
personal benefit.
Our Certificate of Incorporation provides
that our directors will not be personally liable to our company or its shareholders for monetary damages resulting from breach
of their fiduciary duties. However, nothing contained in such provision will eliminate or limit the liability of directors (1)
for any breach of the director’s duty of loyalty to us or our shareholders, (2) for acts or omissions not in good faith or
which involve intentional misconduct or a knowing violation of the law, (3) under Section 174 of the DGCL or (4) for any transaction
from which the director derived an improper personal benefit.
Our Bylaws provide for indemnification
of the officers and directors to the full extent permitted by applicable law.
In addition, we entered into agreements
to indemnify our directors and executive officers containing provisions which are in some respects broader than the specific indemnification
provisions contained in the DGCL. The indemnification agreements may require us, among other things, to indemnify our directors
against certain liabilities that may arise by reason of their status or service as directors and to advance their expenses incurred
as a result of any proceeding against them as to which they could be indemnified.
The proposed form of Underwriting Agreement
to be filed as Exhibit 1.1 to this registration statement will provide for indemnification by the underwriters of the Registrant
and its officers and directors for certain liabilities arising under the U.S. Securities Act, or otherwise.
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Item 16.
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Exhibits and Financial Statement Schedules
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(a) The
following exhibits are filed as part of this Registration Statement:
Exhibit
No.
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|
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Document
|
1.1(1
|
)
|
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Form of Underwriting Agreement
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3.1
|
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Amended and Restated Certificate of Incorporation of Pattern Energy Group Inc. (Incorporated by reference to Exhibit 3.1 to the Registrant’s Registration Statement on Form S-1/A dated September 20, 2013 (Registration No. 333-190538))
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3.2
|
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Amended and Restated Bylaws of Pattern Energy Group Inc. (Incorporated by reference to Exhibit 3.2 to the Registrant’s Registration Statement on Form S-1/A dated September 3, 2013 (Registration No. 333-190538))
|
4.1
|
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Form of Class A Stock Certificate (Incorporated by reference to Exhibit 3.2 to the Registrant’s Registration Statement on Form S-1/A dated September 3, 2013 (Registration No. 333-190538))
|
4.2(1
|
)
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Form of Preferred Stock Certificate
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4.3
|
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Form of Senior Indenture
|
4.4(1
|
)
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Form of Senior Note
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4.5
|
|
|
Form of Subordinated Indenture
|
4.6(1
|
)
|
|
Form of Subordinated Note
|
4.7(1
|
)
|
|
Form of Warrant Agreement
|
4.8(1
|
)
|
|
Form of Purchase Contract
|
4.9(1
|
)
|
|
Form of Subscription Receipt Agreement
|
4.10(1
|
)
|
|
Form of Unit Agreement
|
5.1
|
|
|
Opinion of Davis Polk & Wardwell LLP
|
12.1
|
|
|
Statement regarding computation of Ratio of Earnings to Fixed Charges
|
23.1
|
|
|
Consent of Davis Polk & Wardwell LLP (included in Exhibit 5.1)
|
23.2
|
|
|
Consent of Ernst & Young LLP
|
23.3
|
|
|
Consent of PricewaterhouseCoopers LLP
|
24.1
|
|
|
Power of Attorney (included on the signature page of the Registration Statement)
|
25.1(1
|
)
|
|
Statement of Eligibility on Form T-1 under the Trust Indenture Act of 1939 of Trustee under the Senior Indenture
|
25.2(1
|
)
|
|
Statement of Eligibility on Form T-1 under the Trust Indenture Act of 1939 of Trustee under the Subordinated Indenture
|
|
(1)
|
To be filed, if necessary, by amendment or on a Current Report on Form 8-K prior to or concurrently with the issuance of the
applicable securities.
|
(a) The
undersigned Registrant hereby undertakes:
(1) To
file, during any period in which offers or sales are being made of securities registered hereby, a post-effective amendment to
this registration statement:
(i) To
include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;
(ii) To
reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if
the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high
end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Securities and Exchange Commission
pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the
maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective registration
statement;
(iii) To
include any material information with respect to the plan of distribution not previously disclosed in the registration statement
or any material change to such information in the registration statement;
provided
,
however
, that paragraphs (i),
(ii) and (iii) above do not apply if the information required to be included in a post-effective amendment by those paragraphs
is contained in periodic reports filed with or furnished to the Securities and Exchange Commission by the Registrant pursuant to
Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in this registration statement,
or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of the registration statement.
(2) That,
for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities offered herein, and the offering of such securities at that time
shall be deemed to be the initial
bona fide
offering thereof.
(3) To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
termination of the offering.
(4) That,
for the purpose of determining liability under the Securities Act of 1933 to any purchaser:
(A) Each
prospectus filed by the Registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the
date the filed prospectus was deemed part of and included in the registration statement; and
(B) Each
prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on
Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing the information
required by Section 10(a) of the Securities Act of 1933 shall be deemed to be part of and included in the registration statement
as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale
of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any
person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement
relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities
at that time shall be deemed to be the initial
bona fide
offering thereof.
Provided
,
however
, that no statement
made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or
deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will,
as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made
in the registration statement or prospectus that was part of the registration statement or made in any such document immediately
prior to such effective date.
(5) That,
for the purpose of determining liability of the Registrant under the Securities Act of 1933 to any purchaser in the initial distribution
of the securities, the undersigned Registrant undertakes that in a primary offering of securities of the undersigned Registrant
pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if
the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned Registrant
will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:
(i) Any
preliminary prospectus or prospectus of the undersigned Registrant relating to the offering required to be filed pursuant to Rule
424;
(ii) Any
free writing prospectus relating to the offering prepared by or on behalf of the undersigned Registrant or used or referred to
by the undersigned Registrant;
(iii) The
portion of any other free writing prospectus relating to the offering containing material information about the undersigned Registrant
or its securities provided by or on behalf of the undersigned Registrant; and
(iv) Any
other communication that is an offer in the offering made by the undersigned Registrant to the purchaser.
(b) The
undersigned Registrant hereby undertakes to file an application for the purpose of determining the eligibility of the trustee to
act under subsection (a) of Section 310 of the Trust Indenture Act in accordance with the rules and regulations prescribed by the
Commission under Section 305(b)(2) of the Trust Indenture Act.
(c) The
undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each
filing of the Registrant’s annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934
(and, where applicable, each filing of an employee benefit plan’s annual report pursuant to Section 15(d) of the Securities
Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the
initial
bona fide
offering thereof.
(d) The
undersigned Registrant hereby undertakes to supplement the prospectus, after the expiration of the subscription period, to set
forth the results of the subscription offer, the transactions by the underwriters during the subscription period, the amount of
unsubscribed securities to be purchased by the underwriters, and the terms of any subsequent reoffering thereof. If any public
offering by the underwriters is to be made on terms differing from those set forth on the cover page of the prospectus, a post-effective
amendment will be filed to set forth the terms of such offering.
(e) Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant have been advised that in the opinion
of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant
of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered,
the Registrant will, unless in the opinion of their counsel the matter has been settled by controlling precedent, submit to a court
of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities
Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements
for filing on Form S-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of San Francisco, State of California, on August 14, 2017.
|
PATTERN ENERGY GROUP INC.
|
|
|
|
|
|
|
|
|
By:
|
/s/ Michael M. Garland
|
|
|
|
Name:
|
Michael M. Garland
|
|
|
|
Title:
|
Director, President and
Chief Executive Officer
|
|
KNOW ALL MEN BY THESE PRESENTS, that each
person whose signature appears below constitutes and appoints Michael M. Garland and Michael J. Lyon, and each of them, his or
her true and lawful attorneys-in-fact and agents, with full power to act separately and full power of substitution and resubstitution,
for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective
amendments) to this registration statement and to file the same, with all exhibits thereto, and all other documents in connection
therewith, with the Securities and Exchange Commission, granting unto each said attorney-in-fact and agent full power and authority
to do and perform each and every act in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or either
of them or his or their substitute or substitutes may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities
Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates
indicated.
Signature
|
Title
|
Date
|
/s/ MICHAEL M. GARLAND
|
Director, President and
Chief Executive Officer
(Principal Executive Officer)
|
August 14, 2017
|
Michael M. Garland
|
|
|
|
|
|
/s/ MICHAEL J. LYON
|
Chief Financial Officer
(Principal Financial Officer)
|
August 14, 2017
|
Michael J. Lyon
|
|
|
|
|
|
/s/ RICHARD A. OSTBERG
|
Senior Vice President,
Controller
(Principal Accounting Officer)
|
August 14, 2017
|
Richard A. Ostberg
|
|
|
|
|
|
/s/ ALAN R. BATKIN
|
Director
|
August 14, 2017
|
Alan R. Batkin
|
|
|
|
|
|
/s/ PATRICIA S. BELLINGER
|
Director
|
August 14, 2017
|
Patricia S. Bellinger
|
|
|
|
|
|
/s/ THE LORD BROWNE OF MADINGLEY
|
Director
|
August 14, 2017
|
The Lord Browne of Madingley
|
|
|
|
|
|
/s/ DOUGLAS G. HALL
|
Director
|
August 14, 2017
|
Douglas G. Hall
|
|
|
|
|
|
/s/ MICHAEL B. HOFFMAN
|
Director
|
August 14, 2017
|
Michael B. Hoffman
|
|
|
|
|
|
/s/ PATRICIA M. NEWSON
|
Director
|
August 14, 2017
|
Patricia M. Newson
|
|
|
EXHIBIT INDEX
Exhibit
No.
|
|
|
Document
|
1.1(1
|
)
|
|
Form of Underwriting Agreement
|
3.1
|
|
|
Amended and Restated Certificate of Incorporation of Pattern Energy Group Inc. (Incorporated by reference to Exhibit 3.1 to the Registrant’s Registration Statement on Form S-1/A dated September 20, 2013 (Registration No. 333-190538))
|
3.2
|
|
|
Amended and Restated Bylaws of Pattern Energy Group Inc. (Incorporated by reference to Exhibit 3.2 to the Registrant’s Registration Statement on Form S-1/A dated September 3, 2013 (Registration No. 333-190538))
|
4.1
|
|
|
Form of Class A Stock Certificate (Incorporated by reference to Exhibit 3.2 to the Registrant’s Registration Statement on Form S-1/A dated September 3, 2013 (Registration No. 333-190538))
|
4.2(1
|
)
|
|
Form of Preferred Stock Certificate
|
4.3
|
|
|
Form of Senior Indenture
|
4.4(1
|
)
|
|
Form of Senior Note
|
4.5
|
|
|
Form of Subordinated Indenture
|
4.6(1
|
)
|
|
Form of Subordinated Note
|
4.7(1
|
)
|
|
Form of Warrant Agreement
|
4.8(1
|
)
|
|
Form of Purchase Contract
|
4.9(1
|
)
|
|
Form of Subscription Receipt Agreement
|
4.10(1
|
)
|
|
Form of Unit Agreement
|
5.1
|
|
|
Opinion of Davis Polk & Wardwell LLP
|
12.1
|
|
|
Statement regarding computation of Ratio of Earnings to Fixed Charges
|
23.1
|
|
|
Consent of Davis Polk & Wardwell LLP (included in Exhibit 5.1)
|
23.2
|
|
|
Consent of Ernst & Young LLP
|
23.3
|
|
|
Consent of PricewaterhouseCoopers LLP
|
24.1
|
|
|
Power of Attorney (included on the signature page of the Registration Statement)
|
25.1(1
|
)
|
|
Statement of Eligibility on Form T-1 under the Trust Indenture Act of 1939 of Trustee under the Senior Indenture
|
25.2(1
|
)
|
|
Statement of Eligibility on Form T-1 under the Trust Indenture Act of 1939 of Trustee under the Subordinated Indenture
|
|
(1)
|
To be filed, if necessary, by amendment or on a Current Report on Form 8-K prior to or concurrently with the issuance of the
applicable securities.
|
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