JUNO BEACH, Fla., Aug. 30, 2023 /PRNewswire/ -- NextEra Energy, Inc. (NYSE: NEE) today announced the settlement rate for the stock purchase contracts that are components of corporate units (NYSE: NEE PRQ) issued in September 2020. Holders of the corporate units will receive 0.6836 shares of NextEra Energy common stock for each stock purchase contract 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. 29, 2023.
Consequently, on Sept. 1, 2023, each holder of the corporate units on that date will receive, following payment of $50.00 for each unit held, 0.6836 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. 10, 2023, of the NextEra Energy Capital Holdings, Inc. debentures that formerly constituted a component of the corporate units.
Upon settlement of all outstanding of these stock purchase contracts, NextEra Energy will receive $2.0 billion in exchange for approximately 27.34 million shares of common stock.
On Sept. 1, 2023, each corporate unit holder of record on Aug. 31, 2023, will receive the final quarterly cash distribution of $0.777375 payable per corporate unit. In addition, holders of corporate units as of Sept. 1, 2023, will receive the remaining amounts from the remarketing described above.
NextEra Energy, Inc.
NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy company headquartered in Juno Beach, Florida. NextEra Energy owns Florida Power & Light Company, which is America's largest electric utility that sells more power than any other utility, providing clean, affordable, reliable electricity to approximately 5.8 million customer accounts, or more than 12 million people across Florida. NextEra Energy also owns a competitive clean energy business, NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world's largest generator of renewable energy from the wind and sun and a world leader in battery storage. Through its subsidiaries, NextEra Energy generates clean, emissions-free electricity from seven commercial nuclear power units in Florida, New Hampshire and Wisconsin. A Fortune 200 company, NextEra Energy has been recognized often by third parties for its efforts in sustainability, corporate responsibility, ethics and compliance, and diversity. NextEra Energy is ranked No. 1 in the electric and gas utilities industry on Fortune's 2023 list of "World's Most Admired Companies," recognized on Fortune's 2021 list of companies that "Change the World" and received the S&P Global Platts 2020 Energy Transition Award for leadership in environmental, social and governance. For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com, www.NextEraEnergyResources.com.
SOURCE NextEra Energy, Inc.