JUNO BEACH, Fla., Aug. 29, 2019 /PRNewswire/ -- NextEra Energy,
Inc. (NYSE: NEE) today announced the settlement rate for the
stock purchase contracts that are components of corporate units
(NYSE: NEE PR R) that it issued in August 2016. Holders of the
corporate units will receive 0.3181 shares of NextEra Energy common
stock for each stock purchase contract that they hold, with cash to
be paid in lieu of any fractional shares. The settlement rate is
based upon the average of the closing price per share of NextEra
Energy common stock on the New York Stock Exchange for
the 20 consecutive trading days ending on Aug. 28, 2019.
Consequently, on Sept. 3, 2019, each holder of the
corporate units on that date will, following payment
of $50.00 for each unit which it holds, receive 0.3181
shares of NextEra Energy common stock for each such unit. The
holders' obligations to make such payments will be satisfied with
proceeds generated by the successful remarketing on Aug. 8,
2019, of the NextEra Energy Capital Holdings,
Inc. debentures that formerly constituted a component of the
corporate units.
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.
On Sept. 3, 2019, each corporate unit holder of record
on Aug. 30, 2019, will receive the final quarterly cash
distribution of $0.765375 payable per corporate unit. In
addition, holders of corporate units as of Sept. 3, 2019, will receive the remaining amounts
from the remarketing described above and from the treasury
portfolio that was purchased in connection with the
remarketing.
NextEra Energy, Inc.
NextEra Energy, Inc. (NYSE: NEE)
is a leading clean energy company headquartered in Juno Beach, Florida. NextEra Energy owns two
electric companies in Florida:
Florida Power & Light Company,
which serves more than 5 million customer accounts in Florida and is the largest rate-regulated
electric utility in the United
States as measured by retail electricity produced and sold;
and Gulf Power Company, which serves more than 460,000 customers in
eight counties throughout northwest Florida. NextEra Energy also
owns a competitive energy business, NextEra Energy Resources, LLC,
which, together with its affiliated entities, is the world's
largest generator of renewable energy from the wind and sun and a
world leader in battery storage. Through its subsidiaries, NextEra
Energy generates clean, emissions-free electricity from eight
commercial nuclear power units in Florida, New
Hampshire, Iowa and
Wisconsin. A Fortune 200 company
and included in the S&P 100 index, NextEra Energy has been
recognized often by third parties for its efforts in
sustainability, corporate responsibility, ethics and compliance,
and diversity. NextEra Energy is ranked No. 1 in the electric and
gas utilities industry on Fortune's 2019 list of "World's Most
Admired Companies" and ranked among the top 25 on Fortune's 2018
list of companies that "Change the World." For more information
about NextEra Energy companies, visit these websites:
www.NextEraEnergy.com, www.FPL.com, www.GulfPower.com,
www.NextEraEnergyResources.com.
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SOURCE NextEra Energy, Inc.