Business
Portland General Electric Company Announces Pricing of a Public Offering of 9,467,455 Shares of Common Stock
Portland General Electric Company (NYSE: POR) ("PGE" or the "Company"), an integrated energy company, today announced that it has priced an underwritten public offering of 9,467,455 shares of its common stock, all of which are being offered in connection with the forward sale agreements described below, at a public offering price of $50.70 per share. The offering is expected to close on February 19, 2026, subject to satisfaction of the conditions to closing.
About this update from Portland General Electric Co
[{"type":"text","content":"PORTLAND, Ore., Feb. 17, 2026 /PRNewswire/ -- Portland General Electric Company (NYSE: POR) ("PGE" or the "Company"), an integrated energy company, today announced that it has priced an underwritten public offering of 9,467,455 shares of its common stock, all of which are being offered in connection with the forward sale agreements described below, at a public offering price of $50.70 per share. The offering is expected to close on February 19, 2026, subject to satisfaction of the conditions to closing.","length":543,"tagName":"p"},{"type":"text","content":"Wells Fargo Securities and BofA Securities are acting as lead book-runners and Barclays and J.P. Morgan are acting as active book-runners for the offering. BMO Capital Markets and Mizuho are acting as book-running managers and BTIG and Siebert Williams Shank are co-managers for the offering.","length":292,"tagName":"p"},{"type":"text","content":"In connection with the offering of shares of common stock, the Company entered into forward sale agreements with each of Wells Fargo Bank, National Association and Bank of America, N.A. (which the Company refers to as the "forward purchasers"), with respect to 9,467,455 shares of the Company's common stock.","length":327,"tagName":"p"},{"type":"text","content":"The underwriters of the offering also have been granted a 30-day option to purchase up to 1,380,670 additional shares of the Company's common stock. If the option to purchase additional shares of the Company's common stock is exercised, the Company expects to enter into one or more additional forward sale agreements with the forward purchasers in respect of the number of shares of the Company's common stock that are subject to exercise of the option to purchase additional shares.","length":501,"tagName":"p"},{"type":"text","content":"In connection with the forward sale agreements and any additional forward sale agreements, the forward purchasers (or their affiliates) are expected to borrow from third parties and sell to the underwriters an aggregate of 9,467,455 shares of the Company's common stock (or an aggregate of 10,848,125 shares of the Company's common stock if the underwriters exercise their option to purchase additional shares in full). However, a forward purchaser (or its affiliat...