NextEra Energy Shares Fizzle on Unit Sale

By Dean Seal

Shares of NextEra Energy pulled back after the company said it would sell $2 billion worth of equity units.

The stock was down 4.9% at $68.75 in Tuesday's premarket trading. Shares had gained 19% year-to-date when the market closed Monday.

The energy producer said after yesterday's bell that it plans to sell $2 billion in equity units at a price of $50 apiece.

Each unit will include a contract to buy a share of NextEra Energy common stock at some point in the future and a 5% undivided beneficial ownership interest in a NextEra Energy Capital Holdings debenture that will be issued in the principal amount of $1,000.

Unitholders will be required to complete the stock purchase no later than June 1, 2027.

Proceeds of the unit sale, expected to hit around $1.94 billion after deducting underwriting and other offering costs, will be added to NextEra Energy Capital Holdings' general funds for investments in energy and power projects.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

June 18, 2024 09:00 ET (13:00 GMT)

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