Business
MGE Energy Announces Pricing of Public Offering of Common Stock
MADISON, Wis.--(BUSINESS WIRE)-- MGE Energy, Inc. (Nasdaq: MGEE) today announced the pricing of its underwritten public offering of 1,300,000 shares of
About this update from Mge Energy Inc.
[{"type":"text","content":" MADISON, Wis.--(BUSINESS WIRE)--\nMGE Energy, Inc. (Nasdaq: MGEE) today announced the pricing of its underwritten public offering of 1,300,000 shares of common stock at a price to the public of $56.00 per share of common stock. In connection with the offering, MGE Energy has granted the underwriters a 30-day option to purchase up to an additional 195,000 shares of its common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about May 15, 2020, subject to customary closing conditions.\n\n\nThe gross proceeds to MGE Energy before deducting underwriting discounts and commissions and estimated offering expenses payable by MGE Energy, are expected to be $72.8 million, excluding any exercise of the underwriters' option to purchase additional shares of our common stock. MGE Energy intends to use the net proceeds from the offering for general corporate purposes, including capital expenditures.\n\n\nMorgan Stanley and BofA Securities are acting as joint book-running managers for the offering.\n\n\nA shelf registration statement on Form S-3, including a prospectus, related to the shares has been filed by MGE Energy with the U.S. Securities and Exchange Commission (\"SEC\") and has become effective automatically upon filing. The offering is being made only by means of a preliminary prospectus supplement and the accompanying prospectus which has been filed with the SEC. Copies of the preliminary prospectus supplement and the accompanying prospectus, and the final prospectus supplement, when available, may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 or from BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, Email: [email protected] or by visiting the SEC's website at www.sec.gov under MGE Energy's name.\n\n\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\n\n\nAbout MGE Energy\n\n\nMGE Energy is a public uti...