NextEra Energy, Inc. (NYSE : NEE ) today announced the settlement rate for the stock purchase contracts that are components of corporate units (NYSE :NEE PR Q) that it issued in September 2015. Holders of the corporate units will receive 0.4440 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. 29, 2018.
Consequently, on Sept. 4, 2018, each holder of the corporate units on that date will, following payment of $50.00 for each unit which it holds, receive 0.4440 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. 9, 2018, 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 approximately $700 million in exchange for approximately 6.22 million shares of common stock.
On Sept. 4, 2018, each corporate unit holder of record on Aug. 31, 2018, will receive the final quarterly cash distribution of $0.796375 payable per corporate unit. In addition, holders of corporate units as of Sept. 4, 2018, will receive any remaining amounts from the treasury portfolio that was purchased in connection with the remarketing described above.
NextEra Energy, Inc.
NextEra Energy, Inc. (NYSE : NEE ) is a leading clean energy company with consolidated revenues of approximately $17.2 billion, operates approximately 46,790 megawatts of net generating capacity and employs approximately 14,000 people in 33 states and Canada as of year-end 2017. Headquartered in Juno Beach, Florida, NextEra Energy’s principal subsidiaries are Florida Power & Light Company, which serves approximately 5 million customer accounts in Florida and is one of the largest rate-regulated electric utilities in the United States, and 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 eight commercial nuclear power units in Florida, New Hampshire, Iowa and Wisconsin. A Fortune 200 company and included in the S&P 100 index, 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 2018 list of “World’s Most Admired Companies” and ranked among the top 25 on Fortune’s 2018 list of companies that “Change the World.” For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com, www.NextEraEnergyResources.com.
