Pinnacle West entered into an Equity Distribution Agreement on November 8, 2024 with BofA Securities and 8 other managers, under which it may sell common stock from time to time with an aggregate gross sales price of up to $900,000,000.

1. 01

   Pinnacle West entered into an Equity Distribution Agreement on November 8, 2024 with BofA Securities and 8 other managers, under which it may sell common stock from time to time with an aggregate gross sales price of up to $900,000,000.

2. 02

   The company said sales may be made in a manner that qualifies as an "at the market offering" under Rule 415, and that each manager will receive a commission of up to 1% of the aggregate gross sales price per share for shares it sells.

3. 03

   The company said it may enter into Forward Sale Agreements with forward purchasers under Master Forward Confirmations, and that it expects to fully physically settle each agreement by delivering shares on or before its maturity date.

4. 04

   The company said it intends to use the net proceeds from share sales and from settlement of Forward Sale Agreements to invest in Arizona Public Service Company (APS) to fund capital expenditures, to repay all or part of the company's or APS's commercial paper, and for general corporate purposes.

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Original filing

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