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CenterPoint Energy Prices Concurrent Public Offerings - Quick Facts

CenterPoint Energy, Inc. (CNP) announced the pricing of its concurrent underwritten public offerings of approximately $1.65 billion of shares of common stock at a price of $27.25 per share and 17 million depositary shares, each representing a 1/20th interest in a share of its 7.00% Series B Mandatory Convertible Preferred Stock, at a price of $50 per depositary share.

The company noted that the common stock and the depositary share offerings are separate registered public offerings and are not contingent on one another. Neither offering is or will be contingent on the consummation of the proposed Vectren Merger. The concurrent offerings are expected to close on October 1, 2018.

CenterPoint Energy intends to use the net proceeds from the common stock and depositary share offerings of approximately $1.60 billion and $0.83 billion, respectively, in each case after deducting issuance costs and discounts for the respective offerings, to finance a portion of the cash consideration payable by CenterPoint Energy in connection with its pending merger with Vectren, as well as a portion of the related fees and expenses.

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