05:07 PM EDT, 03/17/2025 (MT Newswires) -- Entergy ( ETR ) on late Monday launched a registered underwritten offering of $1.3 billion shares and entered into related forward sale agreements with certain banks.

The utility company said it will issue up to $1.3 billion shares to Morgan Stanley, Bank of America, JPMorgan Chase Bank and Mizuho Markets Americas under the forward sale agreements.

Entergy ( ETR ) will issue a 30-day option to the underwriters of the offering to buy up to $195 million of its shares to cover potential overallotments.

The forward sale agreements are expected to settle by Sept. 30, 2026, subject to certain conditions. The company is expecting to use the net proceeds to repay debt, including amounts owed under its outstanding credit facility, commercial paper or other loans.