09:43 AM EST, 11/04/2024 (MT Newswires) -- Xcel Energy ( XEL ) said Monday it has priced its Underwritten Public Offering of 18.3 million common shares at $65.50 per share, for expected gross proceeds of around $1.2 billion.

All shares will be borrowed by forward purchasers from third parties, sold to the underwriters and offered in connection with forward sale agreements, the company said, adding Barclays and BofA Securities are the joint book-running managers.

The underwriters will be given a 30-day option to buy up to an additional $180 million of shares, the company said.

Settlement of the forward sale agreements is expected to be on or before June 30, 2026, Xcel said.

The company said net proceeds will be used for general corporate purposes.

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