Corporate ActionJun 5, 2026, 04:47 PM
Pinnacle West Amends Equity Distribution Agreement, Extends Maturity to 24 Months
AI Summary
Pinnacle West Capital Corporation entered into the First Amendment to its Equity Distribution Agreement on June 5, 2026. This amendment extends the outside maturity period for forward sale agreements from 18 months to 24 months. The maximum aggregate gross sales price of $900 million for common stock offerings in "at-the-market" offerings, along with other terms, remains unchanged. Approximately $630 million in shares have already been sold, leaving about $270 million available for future sales.
Key Highlights
- Pinnacle West amended its Equity Distribution Agreement on June 5, 2026.
- The amendment extends the outside maturity period for forward sale agreements from 18 months to 24 months.
- The maximum aggregate gross sales price under the agreement remains $900,000,000.
- Approximately $630 million in shares have been offered and sold through June 5, 2026.
- Up to approximately $270 million in shares remain available for offer and sale.
- The amendment did not modify the parties, commission rates, or other terms of the agreement.
Price Impact
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