8-KOther EventsExhibits & Filings

XCEL ENERGY INC 8-K Report, Corporate Update (Sep 5, 2018)

Filed September 5, 2018For Securities:XELXELLL

Summary

Xcel Energy Inc. (XEL) announced on September 5, 2018, the execution of an equity distribution agreement with Barclays Capital Inc., J.P. Morgan Securities LLC, and Wells Fargo Securities, LLC. This agreement allows Xcel Energy to offer and sell shares of its common stock with an aggregate gross sale price of up to $300 million. The Sales Agents will receive a commission of up to 1.00% for any shares sold under this agreement. The offering of these shares is being made pursuant to a previously filed registration statement on Form S-3. This move provides Xcel Energy with a mechanism to raise capital opportunistically by selling shares directly into the market over time. The duration of the offering is contingent on the full sale of the shares or termination of the agreement by either Xcel Energy or the sales agents.

Key Highlights

  • 1Xcel Energy entered into an equity distribution agreement on September 5, 2018.
  • 2Up to $300 million worth of Xcel Energy common stock may be offered and sold under this agreement.
  • 3Barclays Capital Inc., J.P. Morgan Securities LLC, and Wells Fargo Securities, LLC are acting as sales agents.
  • 4Sales agents will receive a commission of up to 1.00% of the gross sales price per share.
  • 5The shares being offered are covered by a previously filed Form S-3 registration statement.
  • 6This agreement provides a flexible way for Xcel Energy to raise capital through at-the-market equity offerings.

Frequently Asked Questions

The purpose of the equity distribution agreement is to allow Xcel Energy to sell up to $300 million of its common stock opportunistically into the market over time. This provides the company with a flexible way to raise capital as needed.

The sales agents for this offering are Barclays Capital Inc., J.P. Morgan Securities LLC, and Wells Fargo Securities, LLC.

Xcel Energy will pay each sales agent a commission of up to 1.00% of the gross sales price for any shares sold through the agreement.

The offering will terminate upon the earlier of when all the shares covered by the agreement are sold or if Xcel Energy or any of the sales agents decide to terminate the agreement.