11:17 AM EST, 11/05/2024 (MT Newswires) -- 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 ( XEL ) said it expects to use the net proceeds for general corporate purposes.

Price: 66.33, Change: +0.51, Percent Change: +0.77