Summary
Xcel Energy Inc. (XEL) announced on March 5, 2013, that it has entered into three separate equity distribution agreements with Barclays Capital Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Morgan Stanley & Co. LLC. These agreements allow the company to offer and sell shares of its common stock through these sales agents, with an aggregate gross sale price of up to $400,000,000. The sales can occur through various methods, including ordinary brokers' transactions on the New York Stock Exchange at prevailing market prices, or at negotiated prices. Xcel Energy will pay a commission of 1.0% of the gross sales price for any shares sold by each sales agent. This move allows Xcel Energy to potentially raise significant capital through the issuance of its stock.
Key Highlights
- 1Xcel Energy Inc. has entered into equity distribution agreements with Barclays Capital Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Morgan Stanley & Co. LLC.
- 2The company can sell up to $400,000,000 worth of its common stock through these sales agents.
- 3Sales can be executed on the New York Stock Exchange or through other negotiated transactions.
- 4A commission of 1.0% of the gross sales price will be paid to each sales agent for shares sold.
- 5The shares being offered are registered under a previously filed Form S-3 registration statement (File No. 333-183536).
- 6The offering will terminate upon the sale of all shares or the termination of the agreements.