NRG Energy Shares Slide On Priced Secondary Stock Offering

Dow Jones03-03

By Amira McKee

Shares of NRG Energy fell after the company priced an offering of 14.3 million shares held by LS Power and initiated a concurrent share repurchase program.

The stock fell 9% to $160.00 in midday Tuesday. Despite the intraday decline, shares have gained 58% in the past year.

The energy company said Tuesday that LS Power would sell 14.3 million shares of common stock for $164.00 apiece. The selling stockholders will receive proceeds from the sale of approximately $2.35 billion, the company said.

NRG Energy acquired generation assets from LS Power at the end of January, and said the shares were related to the transaction. NRG Energy will not receive any proceeds from the sale, it said.

The secondary offering is expected to close March 4. The selling stockholders also granted the underwriters a 30-day option to purchase up to an additional 2.1 million shares of common stock.

Barclays and Citigroup are acting as joint book-running managers for the offering.

NRG has also entered into an agreement with the sellers to repurchase $300 million of its common stock in a private transaction for $164.00 a share. The repurchase is under the company's existing repurchase program and is expected to close concurrently with the offering on March 4.

Write to Amira McKee at amira.mckee@wsj.com

(END) Dow Jones Newswires

March 03, 2026 10:56 ET (15:56 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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