PPL said it completed the issuance of 23,000,000 Corporate Units on February 26, 2026, including the full exercise of the underwriters' over-allotment option for up to an additional 3,000,000 Corporate Units.

1. 01

   PPL said it completed the issuance of 23,000,000 Corporate Units on February 26, 2026, including the full exercise of the underwriters' over-allotment option for up to an additional 3,000,000 Corporate Units.

2. 02

   The company said each Corporate Unit has a stated amount of $50 and includes a stock purchase contract that obligates the holder to buy common stock from the company for $50 in cash by February 15, 2029.

3. 03

   The company said total annual distributions on the Corporate Units are 7.00% of the stated amount, consisting of contract adjustment payments under the stock purchase contracts at 2.98% per year and interest on the RSNs at 4.02% per year.

4. 04

   PPL said the RSNs are pledged as collateral to secure the holders' obligations to buy common stock under the stock purchase contracts, and will be remarketed, subject to certain terms, before the stock purchase contract settlement date.

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Original filing

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