HOUSTON - June 9, 2010 - CenterPoint Energy, Inc. (NYSE: CNP) announced today that it has priced its public offering of 22,000,000 shares of its common stock, par value $0.01, at a price of $12.90 per share, pursuant to an Underwriting Agreement dated June 9, 2010. In addition, CenterPoint Energy has granted the underwriters an option to purchase up to an additional 3,300,000 shares to cover over-allotments, if any. The offering is expected to close on June 15, 2010, subject to customary closing conditions.
The company intends to use the net proceeds from this offering for general corporate purposes, including, without limitation, repayment of borrowings under its money pool and making loans to its subsidiaries, including to CenterPoint Energy Resources Corp. to fund its subsidiary’s gas gathering and treating projects.
This news release does not constitute an offer to sell, or the solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful. The offering was made pursuant to CenterPoint Energy’s shelf registration statement filed with the Securities and Exchange Commission (SEC) on October 9, 2008, which became automatically effective, by means of a prospectus and related prospectus supplement.
J.P. Morgan, Credit Suisse, Morgan Stanley and Wells Fargo Securities acted as joint book-running managers in connection with the offering. Barclays Capital and Goldman, Sachs & Co. served as senior co-managers for the offering. Comerica Securities, Macquarie Capital and Mitsubishi UFJ Securities served as co-managers for the offering.
A prospectus relating to the offering has been filed with the SEC. Copies of the prospectus and the prospectus supplement relating to the offering may be obtained from the offices of J.P. Morgan via Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by calling (866) 803-9204; Credit Suisse, Prospectus Department, One Madison Avenue, New York, New York 10010, or by calling (800) 221-1037; Morgan Stanley, 180 Varick Street, Second Floor, New York, New York 10014, Attention: Prospectus Department, or by e-mail at email@example.com; and Wells Fargo Securities, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, or by calling (800) 326-5897 or e-mail a request to firstname.lastname@example.org.
CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution, competitive natural gas sales and services, interstate pipelines and field services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma and Texas.
This news release includes forward-looking statements. Actual events and results may differ materially from those projected. The statements in this news release regarding the offering and the use of proceeds thereof are forward-looking statements that involve risks and uncertainties including market conditions, changes in CenterPoint Energy’s business plans and other factors discussed in CenterPoint Energy’s Form 10-K for the period ended December 31, 2009, CenterPoint Energy’s Form 10-Q for the period ended March 31, 2010, and CenterPoint Energy’s other filings with the SEC.