Clearway energy, inc. announces $150,000,000 at-the-market (atm) equity offering program
Princeton, n.j., aug. 06, 2020 (globe newswire) -- clearway energy, inc. (nyse: cwen, cwen.a) (the “company” or “clearway energy”), today announced a $150,000,000 at-the-market (“atm”) equity offering program and announced that it and clearway energy llc entered into an equity distribution agreement (the “agreement”) with credit suisse securities (usa) llc, goldman sachs & co. llc, morgan stanley & co. llc and ubs securities llc (collectively, the “agents”). pursuant to the terms of the agreement, the company may offer and sell shares of the company’s class c common stock, par value $0.01 per share, from time to time through the agents, as the company’s sales agents for the offer and sale of the shares, up to an aggregate sales price of $150,000,000. sales of the shares, if any, will principally be made by means of ordinary brokers’ transactions on the new york stock exchange at market prices or as otherwise permitted by law. the shares will be issued pursuant to a prospectus supplement to the company’s shelf registration statement on form s-3 (file no. 333-241652) which became effective upon filing with the securities and exchange commission in the united states on august 6, 2020. the company intends to use the net proceeds from the sale of the shares for general corporate purposes, which may include the repayment or refinancing of indebtedness and the funding of working capital, capital expenditures, acquisitions and investments, and the company may invest funds not required immediately for such purposes in marketable securities and short-term investments.
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