NWN - Northwest Natural Holding prices 2.5M stock offering

Northwest Natural Holding Company (NYSE:NWN) trades down 6.2% after hours after the firm has priced an underwritten public offering of 2.5M shares of its common stock, at a price of $50.00/share. Underwriters over-allotment is an additional 375,000 shares of its common stock. Offering is expected to close on April 1, 2022. Net proceeds will be used for general corporate purposes, including repayment of its short-term indebtedness and/or making equity contributions to NW Natural Holdings’ subsidiaries, Northwest Natural Gas Company (NW Natural), NW Natural Water Company (NW Natural Water), and NW Natural Renewables Holdings (NW Natural Renewables). Contributions to NW Natural and NW Natural Water will be used for general corporate purposes. A portion of any contribution received by NW Natural may be used to repay its short-term indebtedness. Earlier, Northwest Natural stock slides on common stock offering.

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Northwest Natural Holding prices 2.5M stock offering