DTE Energy Co.priced its previously announced 12 million equity units .

The 2016 series C remarketable senior notes due 2024 bear interestat 6.50% and are subject to remarketing by June 27, 2019. The notes offer areference price of $93.05 per share and threshold appreciation price of $116.31per share.

Each equity unit will be issued for $50 and will alsoconsist of a contract to purchase common stock in the future and a 5%beneficial ownership stake in a $1,000 remarketable senior note. Unit holdersmust purchase a number of DTE Energy common stock by Oct. 1, 2019.

DTE expects the offering to close by Oct. 5 and to yield$582 million in total or $655 million if the underwriters use the overallotmentoption to purchase additional 1.5 million equity units or an additional amountof $75 million.

The company intends to use the proceeds to finance its $1.3billion acquisitionof midstream assets in the Appalachian Basin from and

Wells Fargo Securities, Citigroup and J.P. Morgan are thejoint book-running managers for the offering.