- Portland General Electric ( NYSE: POR ) on Tuesday announced an underwritten $375M public offering of shares, all of which will be offered in connection with forward sale deals with the joint lead book-running managers.
- Underwriters will be granted a 30-day option to buy up to $56.3M of additional shares.
- Portland General Electric ( POR ) will not initially receive any proceeds from shares sold by the forward purchasers.
- The firm intends to allocate an amount equivalent to the net proceeds from the offering to finance one or more eligible green investments.
- A portion of the proceeds it will receive once the forward sale deals are settled will be used to repay outstanding indebtedness.
- Portland General Electric ( POR ) also reported Q3 earnings that topped estimates .
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Portland General Electric announces $375M stock offering