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Xcel Energy raises $453M after settling equity forward agreements

Xcel Energy Inc. received cash proceeds of $453.1 million after physically delivering 9.36 million common shares on Aug. 29, in settlement to equity forward agreements dated November 2018.

The forward price used to determine cash proceeds received by the company at settlement was calculated based on the November 2018 public offering price of Xcel Energy's common stock, adjusted as provided in the equity forward agreements.