Xcel Energy falls after commencing $1.2 bln public offering

Xcel Energy

04/11/2024 11:52

** Utility firm Xcel Energy's  XEL.O  shares fall 2.1% to $65.99
premarket
    ** Company commences registered underwritten offering of
$1.2 bln of common stock shares
    ** Xcel says all shares expected to be borrowed by forward
purchasers, or their affiliates, from third parties and sold to
underwriters as part of their forward sale agreements
    ** Company expects to enter into separate forward sale
agreements with Barclays Bank and Bank of America
    ** Says underwriters of offering expect to be granted 30-day
option to purchase up to an additional $180 mln worth of
company’s common stock
    ** Settlement of forward sale agreements expected to occur
on or prior to June, 2026
    ** As of last close, stock up 7.7% YTD

(Reporting by Pooja Menon in Bengaluru)
((mailto:Pooja.Menon@thomsonreuters.com;))