Xcel Energy (XEL) said Tuesday it closed an underwritten offering of about 18.3 million shares in connection with forward sale agreements.
The closing will result in about $1.18 billion of proceeds, assuming each forward sale deal is settled based on the initial forward sale price of $64.4356 per share.
Underwriters, including Barclays and BofA Securities, have a 30-day option to acquire up to around 2.7 million additional shares, the company said.
Xcel Energy said it expects to use the net proceeds for general corporate purposes.
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