NRG Energy, Inc. (NRG) on Tuesday said it has priced its upsized secondary offering of 14.3 million shares held by certain affiliates of LS Power at $164 per share.
The company's shares were down more than 5% in pre-market trading.
The shares were part of the consideration the selling stockholders received from NRG in connection with the recently closed acquisition of the LS Power portfolio entities on January 30, 2026. The secondary offering is expected to close on March 4, 2026.
The selling stockholders have also granted the underwriters a 30-day option to purchase up to an additional 2.15 million shares.
Barclays and Citigroup are acting as joint book-running managers for the secondary offering.
Additionally, NRG has entered into a stock purchase agreement with the selling stockholders to repurchase $300 million of shares under its existing share repurchase program.
The buyback is expected to close concurrently with the secondary offering on March 4, 2026.
NRG shares were down more than 5% in pre-market trading. The stock closed at $175.58 on Monday, down 1.89%.
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