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Merrillville, Ind. – NiSource Inc. (NYSE: NYSE:), a leading fully regulated electric utility company, announced the establishment of an on-market stock offering program with potential gross proceeds of up to $900 million. The program is scheduled to be extended until December 31, 2025, and will involve various financial institutions as distributors and forward sellers.
The company has stock distribution agreements with several prominent financial institutions, including Barclays Capital Inc., BMO Capital Markets Corp., and Goldman Sachs & Co (NYSE:). LLC etc. These agreements allow him to sell his NiSource common stock through various means, including regular broker transactions on the New York Stock Exchange and transactions through market makers.
NiSource may also enter into forward sales agreements with certain of the distributor's affiliates that result in the sale of NiSource common stock to hedge such agreements. These transactions are part of a strategy to effectively manage the company's financial position.
Proceeds from the sale of common stock are intended for general corporate purposes. NiSource plans to allocate the proceeds to capital expenditures, working capital and repayment of existing debt, reflecting the company's commitment to maintaining its strong financial foundation.
NiSource serves approximately 3.3 million customers and 500,000 electric customers in six states. The company has been recognized for its commitment to sustainability and diversity by being listed on the Dow Jones Sustainability-North America Index and on the Forbes list of America's Best Employers for Women and Diversity.
This news article is based on a NiSource Inc. press release statement and does not constitute an offer to sell or a solicitation of an offer to buy any securities.
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