Princeton-based NRG Yield Inc. announced Wednesday that it has priced its previously announced public offering of 10.5 million shares of its Class A common stock at $54 per share.
Underwriters have a 30-day option to purchase up to an additional 1.575 million shares of stock from the power provider at the public offering price.
The net proceeds of the offering will be used to acquire newly issued Class A units of NRG Yield LLC, the company said.
Bank of America Merrill Lynch, Citigroup, Morgan Stanley, Barclays and Goldman, Sachs & Co. are acting as joint book runners for the offering. Credit Suisse, Deutsche Bank Securities, KeyBanc Capital Markets, MUFG and RBC Capital Markets are acting as co-managers.
ALSO ON NJBIZ: