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Ameren prices common share offering


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Ameren prices common share offering

Ameren Corp. on Aug. 5 priced an underwritten offering of 7,549,205 common shares at $74.30 per share. The offering was expected to close by Aug. 7.

In connection with the offering, all shares will be borrowed from third parties and sold to underwriter Goldman Sachs & Co. LLC under a forward sale agreement.

Ameren may elect cash or net share settlement instead of physical settlement for some or all of the shares underlying the agreement. The agreement is expected to settle on a date at the company's discretion on or before March 31, 2021.

Ameren will add any net proceeds that it receives upon settlement of the agreement to its general funds.

The company expects to use its general funds to help Ameren Missouri, known legally as Union Electric Co., finance a portion of its approximately $1.2 billion of capital expenditures in the fourth quarter of 2020 in connection with the acquisition of two wind projects in the state, and for general corporate purposes.