05:40 PM EDT, 10/28/2024 (MT Newswires) -- NextEra Energy (NEE) said late Monday it plans to sell $1.5 billion of equity units at $50 apiece to fund investments in energy and power projects and for other general corporate purposes.

Each unit includes a contract to purchase NextEra Energy common stock in the future and a 5% undivided beneficial ownership interest in a NextEra Energy Capital Holdings ( NEE ) debenture due Nov. 1, 2029, it said.

In about three years, unit holders must purchase NextEra Energy common stock for cash, based on a 0% to 25% premium over the stock's closing price on Monday on the New York Stock Exchange, the company said. Stock purchases must be completed by Nov. 1, 2027.

NextEra shares were down 4% in recent after-hours activity.

Price: 79.58, Change: -3.29, Percent Change: -3.97