The Lightning have acquired goaltender Dennis Hildeby, a fourth-round pick in the 2027 NHL Draft and a third-round pick in the 2028 NHL Draft from the Toronto Maple Leafs in exchange for forward Nick Paul.

Paul spent the past five seasons with the Lightning and had three years remaining on his contract, which carried a $3.15 million annual cap hit. His deal also included a modified 16-team no-trade clause. 

Hildeby, 24, appeared in 20 games with the Maple Leafs last season, posting a 5-7-4 record with a 2.86 goals-against average and .914 save percentage. Among Toronto goaltenders who appeared in at least 20 games, he led the club in both goals-against average and save percentage

The 6-foot-7 netminder made 23 appearances for the AHL’s Toronto Marlies, recording a 10-8-5 record with a 2.71 goals-against average and .898 save percentage. In the Calder Cup Playoffs, Hildeby played in three games, finishing with a 2.17 goals-against average and .921 save percentage.