Corporate ActionMay 7, 2026, 04:09 PM
Entergy Enters Forward Sale Agreements for 19.2M Shares
AI Summary
Entergy Corp entered into forward sale agreements on May 5, 2026, with Wells Fargo Bank, Citibank, Barclays Bank PLC, and The Bank of Nova Scotia, involving an aggregate of 19,247,788 shares of its common stock. The initial forward sale price is $110.74 per share, subject to daily adjustments based on a floating interest rate factor. The company retains the discretion to settle these agreements physically, via net share settlement, or in cash on or before April 30, 2028, with physical or net share settlement potentially leading to dilution of earnings per share.
Key Highlights
- Entergy Corp entered into forward sale agreements for 19,247,788 shares of common stock.
- Agreements were made with Wells Fargo, Citibank, Barclays, and Bank of Nova Scotia.
- The initial forward sale price is set at $110.74 per share.
- Settlement dates can be specified by the company on or prior to April 30, 2028.
- Entergy has the right to elect physical, net share, or cash settlement.
- Physical or net share settlement will result in dilution to the company's earnings per share.