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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Friday, September 30, 12:47 PM

Slide #3. Great Plains Energy Incorporated Preferred Stock Offering

Company: Great Plains Energy Incorporated (NYSE:GXP)
Date announced: 9/27/2016
Shares Offered: 52,600,000
Date of Pricing: 9/27/2016
Price Per Share: $26.45
Preferred Stock Offering Details: Great Plains Energy Incorporated (NYSE:GXP) ("Great Plains Energy" or the "Company") announced today the commencement of concurrent underwritten public offerings of 52,600,000 shares of its common stock and 15,000,000 depositary shares, each representing a 1/20th ownership interest in a share of its Series B Mandatory Convertible Preferred Stock, without par value (the "Mandatory Convertible Preferred Stock"), with a liquidation preference of $1,000 per share of Mandatory Convertible Preferred Stock (equivalent to $50 per depositary share). In addition, Great Plains Energy will grant the underwriters in each respective offering a 30-day option to purchase up to 7,890,000 additional shares of common stock and up to 2,250,000 additional depositary shares. -updated 9/27- Great Plains Energy Incorporated (NYSE:GXP) ("Great Plains Energy" or the "Company") announced today the pricing of its previously announced concurrent underwritten public offerings of 52,600,000 shares of its common stock at a price of $26.45 per share and 15,000,000 depositary shares, each representing a 1/20th ownership interest in a share of its 7.00% Series B Mandatory Convertible Preferred Stock, without par value (the "Mandatory Convertible Preferred Stock"), with a liquidation preference of $1,000 per share of Mandatory Convertible Preferred Stock (equivalent to $50 per depositary share), at a price of $50 per depositary share. In addition, the underwriters in each respective offering have been granted a 30-day option to purchase up to 7,890,000 additional shares of common stock and up to 2,250,000 additional depositary shares.

Great Plains Energy is a public utility holding company. Co.'s business segment is electric utility, which consists of: Kansas City Power & Light Co., a regulated electric utility that provides electricity to customers primarily in Missouri and Kansas; KCP&L Greater Missouri Operations Co., a regulated electric utility that provides electricity to customers in Missouri and regulated steam service to certain customers in St. Joseph, MO; and GPE Transmission Holding Company, LLC, which owns 13.5% of Transource Energy, LLC, which focuses on developing electric transmission projects. At Dec 31 2015, electric utility served approximately 846,100 customers in western Missouri and eastern Kansas.
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Name:  Great Plains Energy Inc
Website:  www.greatplainsenergy.com
Sector:  Electric Utilities
Number of ETFs Holding GXP:  48 (see which ones)
Total Market Value Held by ETFs:  $372,229,248
Total Market Capitalization:  $4,309,000,000
% of Market Cap. Held by ETFs:  8.64%
 

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