MERRILLVILLE, Ind. - NiSource Inc. (NYSE: NYSE:NI), a leading fully-regulated utility company, has announced the establishment of an at-the-market equity offering program that could reach up to $900 million in aggregate gross sales. This program is set to extend through December 31, 2025, and involves a range of financial institutions as sales agents and forward sellers.
The company has entered into equity distribution agreements with several notable financial institutions, including Barclays Capital Inc., BMO Capital Markets Corp., and Goldman Sachs & Co (NYSE:GS). LLC, among others. These agreements allow for the sale of NiSource common stock through various means, such as ordinary broker transactions on the New York Stock Exchange or through market makers.
NiSource may also engage in forward sale agreements with some of the agents' affiliates, who would sell shares of NiSource's common stock to hedge such agreements. These transactions are part of a strategy to manage the company's financial position effectively.
The proceeds from any sales of common stock are intended for general corporate purposes. NiSource plans to allocate the funds towards capital expenditures, working capital, and repaying existing debt, reflecting the company's commitment to maintaining a strong financial foundation.
NiSource serves approximately 3.3 million natural gas customers and 500,000 electric customers across six states. The company is recognized for its commitment to sustainability and diversity, being listed on the Dow Jones Sustainability - North America Index and Forbes' lists of America's Best Employers for Women and Diversity.
This news article is based on a press release statement from NiSource Inc. and does not constitute an offer to sell or a solicitation of an offer to buy any securities.
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