Xcel Energy completes $1.4 billion public offering of Common Stock, including forward sale
Client(s) Xcel Energy Inc.
Jones Day represented Xcel Energy Inc. ("Xcel Energy") in connection with its forward sale in a registered underwritten offering of an aggregate of 21,068,701 shares of Common Stock at an initial forward sale price per share of $64.4356.
In connection with the offering, on November 4, 2024, Xcel Energy entered into separate forward sale agreements with Barclays Bank PLC and Bank of America, N.A., as forward purchasers, under which Xcel Energy agreed to issue and sell to the forward purchasers an aggregate of 18,320,610 shares of its Common Stock at the initial forward sale price of $64.4356. On November 6, 2024, the underwriters exercised in full their option to purchase an additional 2,748,091 shares of Xcel Energy Common Stock upon the same terms and in connection therewith, Xcel Energy entered into separate additional forward sale agreements with each of the forward purchasers relating to such additional shares.
In connection with the forward sale agreements and the additional forward sale agreements, the forward purchasers borrowed from third-party lenders and sold to the underwriters an aggregate of 21,068,701 shares of Xcel Energy's Common Stock. Barclays and BofA Securities acted as joint lead book-running managers for the offering. Citigroup and Wells Fargo Securities acted as joint book-running managers for the offering.
