Great Plains Energy (GXP) Announces 52.6M Share Common Stock Offering; Will Also Offer Mandatory Conv. Preferred Shares

Great Plains Energy Announces Concurrent Offerings of Common Stock and Depositary Shares Representing Interests in Mandatory Convertible Preferred Stock

KANSAS CITY, Mo.--(BUSINESS WIRE)-- Great Plains Energy Incorporated (NYSE: GXP) (Great Plains Energy or the Company) announced today the commencement of concurrent underwritten public offerings of 52,600,000 shares of its common stock and 15,000,000 depositary shares, each representing a 1/20th ownership interest in a share of its Series B Mandatory Convertible Preferred Stock, without par value (the Mandatory Convertible Preferred Stock), with a liquidation preference of $1,000 per share of Mandatory Convertible Preferred Stock (equivalent to $50 per depositary share). In addition, Great Plains Energy will grant the underwriters in each respective offering a 30-day option to purchase up to... More