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NextEra Energy announces settlement rate for corporate units issued in August 2016
JUNO BEACH, Fla., Aug. 29, 2019 /PRNewswire/ -- NextEra Energy, Inc. (NYSE: NEE) today announced the settlement rate for the stock purchase contracts that are components of corporate units (NYSE: NEE PR R) that it issued in August 2016. Holders of the corporate units will receive 0.3181 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 Aug. 28, 2019.
Consequently, on Sept. 3, 2019, each holder of the corporate units on that date will, following payment of $50.00 for each unit which it holds, receive 0.3181 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. 8, 2019, 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 9.54 million shares of common stock.
On Sept. 3, 2019, each corporate unit holder of record on Aug. 30, 2019, will receive the final quarterly cash distribution of $0.765375 payable per corporate unit. In addition, holders of corporate units as of Sept. 3, 2019, will receive the remaining amounts from the remarketing described above and from the treasury portfolio that was purchased in connection with the remarketing.
NextEra Energy, Inc.
SOURCE NextEra Energy, Inc.
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