Constellation Energy Corporation (NASDAQ: CEG) announced an underwritten public offering of 11 million shares of common stock by certain shareholders. The Baltimore-based energy company will not sell any shares in the offering and will not receive proceeds from the sale.

The company stated it intends to purchase 2 million shares from the underwriters at the same price paid to the selling shareholders. This share repurchase will be conducted under Constellation's existing share repurchase program. The offering's closing is not conditional on the share repurchase, though the repurchase depends on the offering's completion.

Morgan Stanley and J.P. Morgan serve as underwriters for the offering. The underwriters have a 30-day option to purchase up to an additional 1.35 million shares from the selling shareholders.

The offering is subject to market conditions and customary closing conditions. A registration statement on Form S-3ASR was filed with the Securities and Exchange Commission and became effective upon filing.

Constellation operates 55 gigawatts of capacity from nuclear, natural gas, oil, geothermal, hydro, wind and solar facilities. The company serves approximately 2.5 million customer accounts nationwide and describes itself as the largest private-sector power producer globally.