NextEra Energy Inc. on Aug. 29 announced the settlement rate for the stock purchase contracts that are components of corporate units that the company issued in August 2016.
On Sept. 3, holders of the corporate units will receive 0.3181 share of NextEra Energy common stock for each such unit, following payment of $50 for each unit which it holds.
Upon settlement of all outstanding stock purchase contracts, NextEra Energy will receive $1.5 billion in exchange for approximately 9.54 million shares of common stock.
Also on Sept. 3, the company will pay a final quarterly cash distribution of 76.5375 cents per unit to holders of record Aug. 30.
Corporate unit holders as of Sept. 3 will receive the remaining amounts from the remarketing of NextEra Energy Capital Holding's $1.5 billion outstanding series I debentures due Sept. 1, 2021, which were originally issued as components of the corporate units.
