CenterPoint Energy Announces Public Offering Of $250M Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
CenterPoint Energy, Inc. (NYSE:CNP) announced a public offering of $250 million in common stock. The proceeds will be used for general corporate purposes, including repayment of commercial paper. Barclays Capital Inc. and Citigroup are the joint book-running managers and underwriters for the offering.
August 07, 2024 | 9:13 pm
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CenterPoint Energy is conducting a $250 million public offering of common stock to repay commercial paper and for general corporate purposes. Barclays and Citigroup are the underwriters.
The issuance of new shares typically dilutes existing shareholders' equity, which can lead to a short-term decrease in stock price. The use of proceeds for general corporate purposes and debt repayment is standard but does not provide immediate growth catalysts.
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