NextEra Energy announces settlement rate for contracts issued in 2020

NextEra Energy (NEE) announced the settlement rate for the stock purchase contracts that are components of corporate units issued in September 2020. Holders of the corporate units will receive 0.6836 shares of NextEra Energy common stock for each stock purchase contract they hold, with cash to be paid in lieu of any fractional shares. The settlement rate is based upon the average of the closing price per share of NextEra Energy common stock on the New York Stock Exchange for the 20 consecutive trading days ending on August 29. Consequently, on September 1 each holder of the corporate units on that date will receive, following payment of $50.00 for each unit held, 0.6836 shares of NextEra Energy common stock for each such unit. The holders’ obligations to make such payments will be satisfied with proceeds generated by the successful remarketing on August 10 of the NextEra Energy Capital Holdings debentures that formerly constituted a component of the corporate units. Upon settlement of all outstanding of these stock purchase contracts, NextEra Energy will receive $2.0B in exchange for approximately 27.34M shares of common stock. On September 1 each corporate unit holder of record on August 31 will receive the final quarterly cash distribution of 77.7375c payable per corporate unit. In addition, holders of corporate units as of September 1 will receive the remaining amounts from the remarketing described above.