Xcel Energy said it entered into separate forward sale agreements with Barclays Bank PLC and Bank of America, N.A. on November 4, 2024, covering a total of 18,320,610 shares of common stock.

1. 01

   Xcel Energy said it entered into separate forward sale agreements with Barclays Bank PLC and Bank of America, N.A. on November 4, 2024, covering a total of 18,320,610 shares of common stock.

2. 02

   The company said it granted the underwriters an option to buy up to an additional 2,748,091 shares over 30 days on the same terms. On November 5, 2024, 18,320,610 shares were borrowed from third parties and sold to the underwriters.

3. 03

   The company said it may set the settlement date at its discretion on or before June 30, 2026. It said the initial forward sale price is $64.4356 per share. The price will be adjusted daily based on a floating interest rate factor tied to the overnight bank funding rate less a spread.

4. 04

   The company said it has the right to elect physical settlement, net share settlement or cash settlement, except in limited circumstances. It explained that delivering shares upon physical or net share settlement will dilute its earnings per share.

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Original filing

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