Pinnacle West Capital (PNW) Announces Proposed $650M Share Offering
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Pinnacle West Announces Proposed Public Offering of $650 Million of Common Stock
February 28, 2024 4:11 PM ESTPHOENIX--(BUSINESS WIRE)-- Pinnacle West Capital Corp. (NYSE: PNW) (Pinnacle West) announced today that it is commencing a registered public offering of $650 million of its common stock in connection with the forward sale agreements described below, subject to market and other conditions.
Pinnacle West intends to grant the underwriters the option to purchase up to an additional $97.5 million of its common stock. If such option is exercised, Pinnacle West may, in its sole discretion, enter into additional forward sale agreements with the forward purchasers in respect of, in the aggregate, the number... More
