Entergy Secures $1.3 Billion in Public Stock Offering Through Forward Agreements

Entergy Corporation, an integrated energy company, has successfully raised $1.3 billion through a public common stock offering. Pillsbury Winthrop Shaw Pittman LLP played a crucial role as the legal counsel for the underwriters involved in this significant transaction. The offering consisted of 15,568,863 shares, with Entergy entering into forward sale agreements with major financial entities like Morgan Stanley, Bank of America, and JPMorgan Chase, among others. This move includes an agreement to sell an aggregate amount of shares to forward counterparties. The underwriters had the opportunity to purchase an additional 2,227,538 shares to address over-allotments. The noteworthy participants in the underwriting process include top financial institutions such as BofA Securities, J.P. Morgan Securities, and Goldman Sachs. The deal was spearheaded by Pillsbury's Corporate partner Lexi Calcado, with a team that included specialist partners in tax, finance, and corporate law.