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Portland GE (POR) just unveiled an update.
On July 26, 2024, the Company will conduct its quarterly earnings call, during which it will also discuss its new equity distribution agreement with top financial institutions to offer and sell up to $400.0 million in common stock. This “at-the-market” offering allows for sales on the NYSE, among other platforms, and may involve forward selling arrangements. Agents will receive up to 2% commission, and the Company has the option to settle these forward sales in cash, shares, or a combination. Proceeds will fund general corporate needs and investments in renewable energy, with all transactions underpinned by an effective shelf registration statement.
See more insights into POR stock on TipRanks’ Stock Analysis page.
