- CenterPoint Energy (CNP, Financial) announces the pricing of its common stock offering at $37.00 per share.
- The offering includes 21,621,622 shares with a forward sale agreement component.
- Closing of the offering is anticipated around May 29, 2025, with potential additional share sales.
CenterPoint Energy, Inc. (CNP) has announced the pricing for a registered underwritten offering of 21,621,622 shares of its common stock at a public price of $37.00 per share. This offering includes a forward component, where shares are expected to be borrowed by forward counterparties and sold to underwriters unless fulfilled by CenterPoint directly.
BofA Securities, Mizuho, and J.P. Morgan are leading as joint book-running managers, with additional support from Barclays, Citigroup, RBC Capital Markets, MUFG, BMO Capital Markets, and Scotiabank as co-managers. The completion of this offering is targeted for May 29, 2025.
In conjunction with this offering, CenterPoint entered into forward sale agreements with Bank of America, Mizuho Markets Americas LLC, and JPMorgan Chase Bank, for the total stock volume. There is also a provision allowing underwriters a 30-day option to purchase up to an additional 3,243,243 shares under similar terms.
The settlement for these forward sale agreements is scheduled for February 25, 2027. CenterPoint may choose a cash or net share settlement, subject to certain conditions. Proceeds from a physical settlement will likely be allocated towards general corporate activities, including debt repayment.
This offering proceeds under an effective shelf registration statement filed with the SEC, with related documentation accessible via the SEC’s official portal. Investors are cautioned about forward-looking statements, which entail inherent risks, as outlined in CenterPoint’s financial disclosures.
