Alliant Energy Corporation (NASDAQ:LNT), a Wisconsin-based provider of electric and other services with a market capitalization of $15.88 billion, has disclosed the entry into a significant distribution agreement through a recent SEC filing. According to InvestingPro analysis, the company’s shares are currently trading at $61.75, with metrics suggesting the stock may be overvalued at current levels. On Monday, the company established a distribution agreement with several financial institutions, including Barclays (LON:BARC) Capital Inc., BofA Securities, Inc., and Goldman Sachs (NYSE:GS) & Co. LLC, among others, to potentially sell common stock shares valued at up to $1.3 billion.
The shares will be sold through ordinary brokerage transactions on the Nasdaq Global Select Market, block transactions, or other methods as agreed upon with the agents. Moreover, Alliant Energy has the option to enter into forward confirmations with the forward purchasers. These forward transactions would involve borrowing shares from third parties and selling them to hedge the forward confirmations.
Alliant Energy aims to use the net proceeds from the share sales for general corporate purposes. These may encompass debt repayment or refinancing, working capital, and funding for construction and acquisition expenditures.
The company’s shares will be issued under its existing Registration Statement on Form S-3, and a prospectus supplement dated Monday has been filed with the SEC. Interested parties can access these documents on the SEC’s EDGAR online system. InvestingPro data reveals that Alliant Energy maintains a FAIR financial health score, though investors should note that short-term obligations currently exceed liquid assets.
The financial institutions involved have previously provided various financial and non-financial services to Alliant Energy and may continue to do so in the future, for which they will receive customary fees and expenses.
This announcement, based on the SEC filing, does not constitute an offer to sell or a solicitation of an offer to buy Alliant Energy’s common stock in any jurisdiction where such an offer or sale would be unlawful before registration or qualification under the securities laws of such state. For investors considering the stock, InvestingPro highlights that Alliant Energy has maintained dividend payments for 55 consecutive years and has raised its dividend for 21 consecutive years, demonstrating strong commitment to shareholder returns. Subscribers can access the comprehensive Pro Research Report for deeper insights into Alliant Energy’s financial health and growth prospects.
In other recent news, Alliant Energy reported stronger-than-expected financial results for the first quarter of 2025. The company announced earnings per share (EPS) of $0.83, surpassing the projected $0.69, and achieved revenue of $1.13 billion, exceeding the forecast of $1.11 billion. Alliant Energy reaffirmed its 2025 earnings guidance, maintaining a range of $3.15 to $3.25 per share. Additionally, the company plans to invest in renewable energy and infrastructure projects, aiming for a long-term EPS compound annual growth rate of 5-7%. The company has also updated its capital expenditure plan, increasing its forecasted investment CAGR to nearly 11% for 2024 to 2028. Moreover, Alliant Energy has secured energy supply agreements with data center companies, contributing to a significant increase in demand projections. These recent developments underscore Alliant Energy’s strategic focus on growth and economic development in Iowa and Wisconsin.
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