logo
  

NextEra Energy Announces Settlement Rate For Corporate Units

NextEra Energy, Inc. (NEE) announced Tuesday the settlement rate for the stock purchase contracts that are components of corporate units (NEE PRO) that it issued in September 2019. Holders of the corporate units will receive 0.7212 shares of NextEra Energy common stock for each stock purchase contract that they hold, with cash to be paid in lieu of any fractional shares.

The settlement rate is based upon the average of the closing price per share of NextEra Energy common stock on the New York Stock Exchange for the 20 consecutive trading days ending on August 29, 2022.

Consequently, on Sept. 1, 2022, each holder of the corporate units on that date will, following payment of $50.00 for each unit which it holds, receive 0.7212 shares of NextEra Energy common stock for each such unit.

The holders' obligations to make such payments will be satisfied with proceeds generated by the successful remarketing on Aug. 5, 2022, of the NextEra Energy Capital Holdings, Inc. debentures that formerly constituted a component of the corporate units.

Upon settlement of all outstanding stock purchase contracts, NextEra Energy will receive $1.5 billion in exchange for approximately 21.64 million shares of common stock.

On Sept. 1, 2022, each corporate unit holder of record on Aug. 31, 2022, will receive the final quarterly cash distribution of $0.609 payable per corporate unit. In addition, holders of corporate units as of Sept. 1, 2022, will receive the remaining amounts from the remarketing.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Apple Inc. may face production shortfall of as many as 6 million iPhone Pro units this year due to ongoing protests at its major China plant, Bloomberg reported citing a person familiar with assembly operations. Following the news, Apple shares were losing around 2.2 percent in pre-market activity on the Nasdaq. Despite fears of inflation, consumers spent $9.12 billion for online shopping during Black Friday, higher than in previous years, as per a report published by Adobe Analytics. During the 2022 holiday season, total estimated revenues are $209.7 billion, a growth of 2.5 percent from last year's recorded revenues of $205 billion. Weis Markets, Inc., a Mid Atlantic food retailer, has recalled 108 containers of Weis Quality Sea Salt Caramel Ripple Ice Cream citing possible presence of undeclared soy and coconut allergens, the U.S. Food and Drug Administration said. The recalled product comes in 48oz containers that says Weis Quality Sea Salt Caramel Ripple Ice Cream, while the lid says Weis Quality Caramel Caribou Ice Cream
Follow RTT