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CEG Shareholders Sell 11M Shares in Secondary Offering
20 Jun
Summary
- Constellation Energy shares offered at $281.00 per share.
- Company will not receive proceeds from the shareholder offering.
- Constellation Energy plans to repurchase 2 million shares.
Constellation Energy Corporation (NASDAQ:CEG) has seen its existing shareholders price a secondary public offering of 11,000,000 shares at $281.00 per share. As this is a secondary offering, Constellation Energy will not receive any proceeds from these sales. This event took place on June 1.
In parallel, Constellation Energy has agreed to a share repurchase of 2,000,000 shares from the underwriters at the same price. This repurchase is expected to be executed under the company's existing program and is contingent upon the successful closing of the primary offering.
Morgan Stanley and J.P. Morgan are acting as underwriters for the offering. They also hold an option to purchase an additional 1,350,000 shares within the next 30 days. The offering has been filed with the SEC and is subject to standard regulatory requirements and closing conditions.
Constellation Energy is a prominent energy supplier, known for providing reliable, emissions-free energy solutions to businesses, homes, and public sector clients.
