CenterPoint expects gross proceeds from the offering of approximately $250 million, and intends to use the proceeds for corporate purposes. (Source: Shutterstock)
CenterPoint Energy Inc. has priced an underwritten public offering of 9,754,194 shares of its common stock at $25.63 per share, the utility company announced Aug. 7.
CenterPoint expects approximately $250 million of gross proceeds from the offering, and intends to use the proceeds for corporate purposes, including repayment of a portion of its outstanding commercial paper—a form of unsecured, short-term debt.
CenterPoint faced flak from some Houston-area customers regarding its response to power failures from Hurricane Beryl in July. More than a million of its customers dealt with electrical outages, some for more than a week.
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Texas Restaurants Sue Utility CenterPoint Over Response to Hurricane Beryl
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Barclays Capital Inc. and Citigroup are acting as joint book-running managers and underwriters for the offering.
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