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Alliant plans $326M common equity offering


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Essential Energy Insights, April 2021

Alliant plans $326M common equity offering

Alliant Energy Corp. intends to publicly offer $326 million of common shares.

The company may also offer an additional $48.9 million of shares as an overallotment option, for which it will enter a separate forward sale agreement. Total proceeds are expected to be $374.9 million, if the overallotment option is exercised.

The offering of 7,268,673 shares of common stock will be priced at $44.85 per share. If the underwriters opt to purchase additional shares, the total offered would be 8,358,973 shares.

In connection with the offering, Alliant entered into forward sales agreements with Goldman Sachs & Co. LLC and Bank of America NA for the shares.

Goldman Sachs & Co. and Bank of America Merrill Lynch are acting as underwriters. The underwriters may sell the shares from time to time on the New York Stock Exchange, in the over-the-counter market.

Alliant plans to use the proceeds for general corporate purposes, including repayment or refinancing of debt, working capital, construction and acquisition expenditures, investments and repurchases and redemptions of securities.