Business
IDACORP, Inc. Prices Upsized Public Offering of 4,504,505 Shares of Common Stock
BOISE, Idaho, May 09, 2025--IDACORP, Inc. (NYSE: IDA) announced today that it has priced an upsized underwritten public offering of 4,504,505 shares of its common stock at a public offering price of $111.00 per share. Subject to certain conditions, all shares are expected to be borrowed by the forward sellers, Morgan Stanley, J.P. Morgan, and Wells Fargo Securities (or their respective affiliates), from third parties and sold to the underwriters in the offering in connection with the forward sal
About this update from Idacorp, Inc.
[{"type":"text","content":"BOISE, Idaho, May 09, 2025--(BUSINESS WIRE)--IDACORP, Inc. (NYSE: IDA) announced today that it has priced an upsized underwritten public offering of 4,504,505 shares of its common stock at a public offering price of $111.00 per share. Subject to certain conditions, all shares are expected to be borrowed by the forward sellers, Morgan Stanley, J.P. Morgan, and Wells Fargo Securities (or their respective affiliates), from third parties and sold to the underwriters in the offering in connection with the forward sale agreements described below. In conjunction with the offering, IDACORP has granted to the underwriters an option to purchase up to 675,675 additional shares of its common stock. If such option is exercised, IDACORP may, in its sole discretion, enter into additional forward sale agreements with the forward purchasers (or their respective affiliates) with respect to such additional shares.","length":908,"tagName":"p"},{"type":"text","content":"Morgan Stanley, J.P. Morgan, and Wells Fargo Securities are acting as joint lead bookrunners of the offering and representatives for the underwriters. BofA Securities, Mizuho, and MUFG are also acting as bookrunners for the offering. The underwriters may offer the shares of common stock in transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. Closing of the offering is expected to occur on or about May 12, 2025, subject to customary closing conditions.","length":644,"tagName":"p"},{"type":"text","content":"In connection with the offering, IDACORP entered into separate forward sale agreements with each of Morgan Stanley & Co. LLC, JPMorgan Chase Bank, National Association, New York Branch and Wells Fargo Bank, National Association, referred to in such capacity as the forward purchasers, pursuant to which IDACORP agreed to sell to the forward purchasers or their respective affiliates 4,504,505 shares of common stock at an initial forward sale price per share equal to the price per share at which the underwriters purchase the shares in the offering, subject to certain adjustments, upon physical settlement of the forward sale agreements. Settlement of the forward sale agreements is expected to occur...