Corporate ActionAug 4, 2026, 09:08 AM
Pinnacle West Capital to Sell Up to $500M in Common Stock via ATM Offering
AI Summary
Pinnacle West Capital Corporation has entered into an Equity Distribution Agreement with several managers, forward purchasers, and forward sellers. This agreement allows the company to offer and sell shares of its common stock from time to time, with an aggregate gross sales price of up to $500,000,000. Sales may be conducted through an "at the market offering" or other agreed-upon methods, with managers and forward sellers receiving commissions of up to 1%.
Key Highlights
- Pinnacle West Capital entered into an Equity Distribution Agreement.
- Agreement allows for the sale of common stock with an aggregate gross sales price of up to $500,000,000.
- Sales will be made through an "at the market offering" (ATM) method.
- Managers and Forward Sellers include BMO Capital Markets, Citigroup, Morgan Stanley, RBC Capital Markets, and others.
- Managers and Forward Sellers will receive a commission of up to 1% of gross sales price.
- The Company has no obligation to offer or sell shares and can suspend sales at any time.
Price Impact
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