JUNO BEACH, Fla., Nov. 1, 2016 /PRNewswire/ -- NextEra
Energy, Inc. (NYSE: NEE) announced today that it plans to make an offering of 12,000,000 shares of its common stock in a
registered underwritten offering. Subject to certain conditions, the forward counterparties (as described below) (or their
affiliates) are expected to borrow, and sell to the underwriters, 12,000,000 shares in connection with the forward sale
agreements described below. NextEra Energy will issue and sell shares to the underwriters to the extent that the forward
counterparties (or their affiliates) do not borrow and sell such number of shares. Closing of this offering is expected to occur
on or about Nov. 7, 2016. In connection with this offering, the underwriters have been granted an
option to purchase up to an additional 1,800,000 shares of NextEra Energy's common stock solely to cover over-allotments, if
any.
In connection with the offering, NextEra Energy intends to enter into forward sale agreements with financial institutions,
referred to in such capacity as the forward counterparties, pursuant to which NextEra Energy will agree to issue and sell to the
forward counterparties (subject to NextEra Energy's right to elect net share or cash settlement of any such forward sale
agreement) 12,000,000 shares of NextEra Energy's common stock at the price per share at which the underwriters purchase the
shares in the offering, subject to certain adjustments, upon physical settlement of the forward sale agreements. To the extent
that the underwriters exercise the over-allotment option, NextEra Energy expects to enter into additional forward sale
agreements. Settlement of the forward sale agreements is expected to occur no later than Nov. 1,
2017.
NextEra Energy will not receive any proceeds from the sale of the common stock sold by the forward counterparties to the
underwriters. The net proceeds from the sale of the common stock by NextEra Energy to the forward counterparties upon settlement
of the forward sale agreements (assuming the shares subject to the forward sale agreements are physically settled at the price
per share at which the underwriters purchase the shares in the offering and assuming no exercise of the underwriters'
over-allotment option) are expected to be approximately $1.5 billion.
NextEra Energy will add any net proceeds that it receives upon settlement of the forward sale agreements and any additional
forward sale agreements to its general funds. NextEra Energy expects to use its general funds to fund, in part, the merger
consideration of approximately $2.4 billion under an agreement for an affiliate of NextEra Energy
to merge with Texas Transmission Holdings Corporation ("TTHC"), which owns an approximately 20 percent indirect interest in Oncor
Electric Delivery Company LLC ("Oncor"), as well as for general corporate purposes.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities law of any such jurisdiction. The offering may be made
only by means of a prospectus and the related prospectus supplement, copies of which may be obtained from NextEra Energy, Inc.,
Investor Relations, telephone (561) 694-4697.
NextEra Energy, Inc.
NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy company with consolidated revenues of approximately $17.5 billion and approximately 14,300 employees in 27 states and Canada as of
year-end 2015, as well as approximately 45,000 megawatts of generating capacity, which includes megawatts associated with
noncontrolling interests related to NextEra Energy Partners, LP (NYSE: NEP) as of April 2016.
Headquartered in Juno Beach, Fla., NextEra Energy's principal subsidiaries are Florida Power & Light Company, which serves more than 4.8 million customer accounts in Florida and is one of the largest rate-regulated electric utilities in the United
States, and NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world's largest generator
of renewable energy from the wind and sun. Through its subsidiaries, NextEra Energy generates clean, emissions-free electricity
from eight commercial nuclear power units in Florida, New
Hampshire, Iowa and Wisconsin. A Fortune 200 company and
included in the S&P 100 index, NextEra Energy has been recognized often by third parties for its efforts in sustainability,
corporate responsibility, ethics and compliance, and diversity, and has been ranked No. 1 in the electric and gas utilities
industry in Fortune's 2016 list of "World's Most Admired Companies." For more information about NextEra Energy companies, visit
these websites: www.NextEraEnergy.com, www.FPL.com, www.NextEraEnergyResources.com.
Cautionary Statements And Risk Factors That May Affect Future Results
This news release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but instead
represent the current expectations of NextEra Energy, Inc. (together with its subsidiaries, NextEra Energy) regarding future
operating results and other future events, many of which, by their nature, are inherently uncertain and outside of NextEra
Energy's control. Forward-looking statements in this news release include, among others, statements concerning adjusted
earnings per share expectations and future operating performance, and statements concerning future dividends. In some cases, you
can identify the forward-looking statements by words or phrases such as "will," "may result," "expect," "anticipate," "believe,"
"intend," "plan," "seek," "aim," "potential," "projection," "forecast," "predict," "goals," "target," "outlook," "should,"
"would" or similar words or expressions. You should not place undue reliance on these forward-looking statements, which are
not a guarantee of future performance. The future results of NextEra Energy and its business and financial condition are
subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the
forward-looking statements, or may require it to limit or eliminate certain operations. These risks and uncertainties
include, but are not limited to, the following: effects of extensive regulation of NextEra Energy's business operations;
inability of NextEra Energy to recover in a timely manner any significant amount of costs, a return on certain assets or a
reasonable return on invested capital through base rates, cost recovery clauses, other regulatory mechanisms or otherwise; impact
of political, regulatory and economic factors on regulatory decisions important to NextEra Energy; disallowance of cost recovery
based on a finding of imprudent use of derivative instruments; effect of any reductions to, or elimination of, governmental
incentives or policies that support utility scale renewable energy projects or the imposition of additional taxes or assessments
on renewable energy; impact of new or revised laws, regulations, interpretations or other regulatory initiatives on NextEra
Energy; effect on NextEra Energy of potential regulatory action to broaden the scope of regulation of over-the-counter (OTC)
financial derivatives and to apply such regulation to NextEra Energy; capital expenditures, increased operating costs and various
liabilities attributable to environmental laws, regulations and other standards applicable to NextEra Energy; effects on NextEra
Energy of federal or state laws or regulations mandating new or additional limits on the production of greenhouse gas emissions;
exposure of NextEra Energy to significant and increasing compliance costs and substantial monetary penalties and other sanctions
as a result of extensive federal regulation of its operations; effect on NextEra Energy of changes in tax laws and in judgments
and estimates used to determine tax-related asset and liability amounts; impact on NextEra Energy of adverse results of
litigation; effect on NextEra Energy of failure to proceed with projects under development or inability to complete the
construction of (or capital improvements to) electric generation, transmission and distribution facilities, gas infrastructure
facilities or other facilities on schedule or within budget; impact on development and operating activities of NextEra Energy
resulting from risks related to project siting, financing, construction, permitting, governmental approvals and the negotiation
of project development agreements; risks involved in the operation and maintenance of electric generation, transmission and
distribution facilities, gas infrastructure facilities and other facilities; effect on NextEra Energy of a lack of growth or
slower growth in the number of customers or in customer usage; impact on NextEra Energy of severe weather and other weather
conditions; threats of terrorism and catastrophic events that could result from terrorism, cyber attacks or other attempts to
disrupt NextEra Energy's business or the businesses of third parties; inability to obtain adequate insurance coverage for
protection of NextEra Energy against significant losses and risk that insurance coverage does not provide protection against all
significant losses; a prolonged period of low gas and oil prices could impact NextEra Energy's gas infrastructure business and
cause NextEra Energy to delay or cancel certain gas infrastructure projects and for certain existing projects to be impaired;
risk of increased operating costs resulting from unfavorable supply costs necessary to provide full energy and capacity
requirement services; inability or failure to manage properly or hedge effectively the commodity risk within its portfolio;
potential volatility of NextEra Energy's results of operations caused by sales of power on the spot market or on a short-term
contractual basis; effect of reductions in the liquidity of energy markets on NextEra Energy's ability to manage operational
risks; effectiveness of NextEra Energy's risk management tools associated with its hedging and trading procedures to protect
against significant losses, including the effect of unforeseen price variances from historical behavior; impact of unavailability
or disruption of power transmission or commodity transportation facilities on sale and delivery of power or natural gas; exposure
of NextEra Energy to credit and performance risk from customers, hedging counterparties and vendors; failure of counterparties to
perform under derivative contracts or of requirement for NextEra Energy to post margin cash collateral under derivative
contracts; failure or breach of NextEra Energy's information technology systems; risks to NextEra Energy's retail businesses from
compromise of sensitive customer data; losses from volatility in the market values of derivative instruments and limited
liquidity in OTC markets; impact of negative publicity; inability to maintain, negotiate or renegotiate acceptable franchise
agreements; increasing costs of health care plans; lack of a qualified workforce or the loss or retirement of key employees;
occurrence of work strikes or stoppages and increasing personnel costs; NextEra Energy's ability to successfully identify,
complete and integrate acquisitions, including the effect of increased competition for acquisitions; NextEra Energy Partners,
LP's (NEP's) acquisitions may not be completed and, even if completed, NextEra Energy may not realize the anticipated benefits of
any acquisitions; environmental, health and financial risks associated with ownership and operation of nuclear generation
facilities; liability of NextEra Energy for significant retrospective assessments and/or retrospective insurance premiums in the
event of an incident at certain nuclear generation facilities; increased operating and capital expenditures at nuclear generation
facilities resulting from orders or new regulations of the Nuclear Regulatory Commission; inability to operate any owned nuclear
generation units through the end of their respective operating licenses; liability for increased nuclear licensing or compliance
costs resulting from hazards, and increased public attention to hazards, posed to owned nuclear generation facilities; risks
associated with outages of owned nuclear units; effect of disruptions, uncertainty or volatility in the credit and capital
markets on NextEra Energy's ability to fund its liquidity and capital needs and meet its growth objectives; inability to maintain
current credit ratings; impairment of liquidity from inability of credit providers to fund their credit commitments or to
maintain their current credit ratings; poor market performance and other economic factors that could affect NextEra Energy's
defined benefit pension plan's funded status; poor market performance and other risks to the asset values of nuclear
decommissioning funds; changes in market value and other risks to certain of NextEra Energy's investments; effect of inability of
NextEra Energy's subsidiaries to pay upstream dividends or repay funds to NextEra Energy or of NextEra Energy's performance under
guarantees of subsidiary obligations on NextEra Energy's ability to meet its financial obligations and to pay dividends on its
common stock; the fact that the amount and timing of dividends payable on NextEra Energy's common stock, as well as the dividend
policy approved by NextEra Energy's board of directors from time to time, and changes to that policy, are within the sole
discretion of NextEra Energy's board of directors and, if declared and paid, dividends may be in amounts that are less than might
be expected by shareholders; NEP's inability to access sources of capital on commercially reasonable terms could have an effect
on its ability to consummate future acquisitions and on the value of NextEra Energy's limited partner interest in NextEra Energy
Operating Partners, LP; and effects of disruptions, uncertainty or volatility in the credit and capital markets on the market
price of NextEra Energy's common stock. NextEra Energy discusses these and other risks and uncertainties in its annual report on
Form 10-K for the year ended December 31, 2015 and other SEC filings, and this news release should
be read in conjunction with such SEC filings made through the date of this news release. The forward-looking statements
made in this news release are made only as of the date of this news release and NextEra Energy undertakes no obligation to update
any forward-looking statements.
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SOURCE NextEra Energy, Inc.