NWN - Northwest Natural stock slides on common stock offering

Northwest Natural Holding Company (NYSE:NWN) has launched an underwritten public offering of 2.5M shares of its common stock. Underwriters may be granted a 30-day option to purchase up to an additional 375K shares of its common stock. Terms of the offering are yet to be disclosed. Net proceeds will be used for general corporate purposes, including repayment of 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, NW Natural Water, and NW Natural Renewables 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. NWN shares -6.27% AH

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Northwest Natural stock slides on common stock offering