Cravath represented the sales agents, RBC Capital Markets, J.P. Morgan Securities, Bank of America Merrill Lynch, Scotiabank and TD Securities, in connection with the establishment of an at‑the‑market program with respect to common shares totaling up to $250 million. Through its subsidiaries, Algonquin Power & Utilities Corp. owns and operates a portfolio of regulated and non‑regulated generation, distribution and transmission utility assets in Canada and the United States. The shares will be listed on the Toronto Stock Exchange and New York Stock Exchange. The initial closing occurred on February 28, 2019.

The Cravath team included partner Andrew J. Pitts and associates Amber Lam and Ashley R. Gust on securities matters, and associate Andrew T. Davis on tax matters.