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Entergy delivers remaining $608M of shares under forward sale agreements

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Entergy delivers remaining $608M of shares under forward sale agreements

Entergy Corp. on May 30 physically settled its remaining obligations under forward sale agreements by delivering 8,448,171 shares to several counterparties for cash proceeds of approximately $608 million, according to a Form 8-K filing.

In June 2018, the company entered the agreements to issue and sell 15,282,392 shares. Entergy settled a portion of its obligations under the agreements in December 2018 when it delivered 6,834,221 shares for cash proceeds of about $500 million.

The company previously indicated that it will use the proceeds for general corporate purposes, which may include repayment of commercial paper, outstanding loans under its revolving credit facility or other debt.