Pinnacle West enters equity distribution agreement for up to $500 million at-the-market share sales
Reuters2026/08/04 13:03- Pinnacle West entered an equity distribution agreement for an at-the-market offering of up to USD 500 million of common stock.
- Sales may be executed through managers on the NYSE or other permitted channels; managers’ commissions run up to 1% per share sold.
- The program also allows forward sale agreements; the company expects physical settlement, receiving cash based on the forward sale price.
- Forward sale price adjusts daily for an overnight bank rate factor less a spread, reduced for expected dividends during the term.
- The company can suspend sales; the program ends when USD 500 million is sold or the agreement is terminated.
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