CenterPoint Energy closes concurrent upsized public offerings of $2.8 billion in net proceeds
Offerings include $1.90 billion Common Stock, $978 million Depositary Shares representing interests in Series B Mandatory Convertible Preferred Stock, which included the full exercise of both respective overallotment options
2019-06-14T05:00:00Z

HOUSTON, Oct. 1, 2018 - CenterPoint Energy, Inc. (NYSE: CNP) today announced it has closed its concurrent underwritten public offerings of approximately 69,633,027 shares of common stock at a price of $27.25 per share and 19,550,000 depositary shares, each representing a 1/20th interest in a share of its 7.00% Series B Mandatory Convertible Preferred Stock (Series B Preferred Stock), at a price of $50 per depositary share. The amounts sold include 9,082,568 shares of common stock and 2,550,000 depositary shares issued pursuant to the exercise in full of the options granted to the underwriters in each of the respective offerings to purchase additional shares of common stock and depositary shares, respectively.

CenterPoint Energy intends to use the net proceeds from the common stock and depositary share offerings of approximately $1.85 billion and $0.95 billion, respectively, in each case after deducting issuance costs and discounts for the respective offerings, to finance a portion of the cash consideration payable by CenterPoint Energy in connection with its pending merger with Vectren Corporation (Vectren Merger), as well as a portion of the related fees and expenses. If for any reason the Vectren Merger is not completed, CenterPoint Energy expects to use the net proceeds from these offerings for general corporate purposes, which may include, at its sole discretion, exercising its option to redeem the Series B Preferred Stock and the corresponding depositary shares for cash, debt repayment, including repayment of commercial paper, capital expenditures, investments and repurchases of its common stock at the discretion of its board of directors.

Each depositary share entitles the holder of such depositary share, through the depository, to a proportional fractional interest in the rights and preferences of the Series B Preferred Stock, including conversion, dividend, liquidation and voting rights, subject to the terms of the deposit agreement.

The depositary shares have been authorized for listing, upon official notice of issuance, on the New York Stock Exchange under the symbol CNPPRB. CenterPoint Energy's common stock is listed on the New York Stock Exchange and the Chicago Stock Exchange under the symbol CNP.

Joint book-running managers and representatives of the underwriters of the concurrent offerings were Morgan Stanley, Goldman Sachs & Co. LLC, Citigroup and Wells Fargo Securities.

Additional joint book-running managers of the concurrent offerings were Barclays, Credit Suisse, Deutsche Bank Securities and J.P. Morgan.

Senior co-managers of the concurrent offerings were Mizuho Securities, MUFG and RBC Capital Markets.

Co-managers of the concurrent offerings were BNY Mellon Capital Markets, LLC, BTIG (common stock offering only), Comerica Securities, Evercore ISI, PNC Capital Markets LLC, R. Seelaus & Co., Inc. (a diversity and inclusion firm (D&I)), Ramirez and Co., Inc., (D&I), Regions Securities LLC, TD Securities, The Williams Capital Group, L.P. (D&I), Wolfe Capital Markets and Advisory, and US Bancorp (depositary share offering only).

Each offering was made pursuant to CenterPoint Energy's effective shelf registration statement on Form S-3, as amended, previously filed with the Securities and Exchange Commission (SEC).

Each offering was made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended. Copies of the prospectus supplement and accompanying base prospectus meeting such requirements related to each offering may be obtained free of charge from the SEC's website at www.sec.gov or from:

Morgan Stanley & Co. LLC

Attention: Prospectus Department

180 Varick St. 2nd Fl.

New York, New York 10014


Goldman Sachs & Co. LLC

Attention: Prospectus Department

200 West Street

New York, New York 10282

Telephone: 1-866-471-2526

Email: prospectus-ny@ny.email.gs.com




Citigroup

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, New York 11717

Telephone: 1-800-831-9146


Wells Fargo Securities, LLC

Attention: Equity Syndicate Department

375 Park Avenue

New York, New York 10152

Telephone:  1-800-326-5897

Email: cmclientsupport@wellsfargo.com

This press release shall not constitute an offer to sell or the 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 laws of any such state or jurisdiction.

CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution and energy services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. The company also owns 54.0 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership it jointly controls with OGE Energy Corp. Enable Midstream Partners, LP owns, operates and develops natural gas and crude oil infrastructure assets. With more than 8,000 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years.

This press release includes forward-looking statements that are not historical facts. Actual events and results may differ materially from those projected. Forward-looking statements in this press release include, but are not limited to, the use of proceeds from the proposed offerings, the anticipated conversion date of the Series B Preferred Stock and the Vectren Merger.  Factors that could affect the company's ability to complete the proposed offerings include, but are not limited to, general market conditions, investor acceptance of the proposed offerings, the satisfaction of the conditions to the proposed offerings discussed in the prospectus supplements and accompanying base prospectuses and other factors discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2017, CenterPoint Energy's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2018, and June 30, 2018, and CenterPoint Energy's other SEC filings.

Factors that could affect the company's ability to complete the Vectren Merger include, but are not limited to, the satisfaction of the conditions to the Vectren Merger discussed in the prospectus supplement and accompanying base prospectus and other factors discussed in the company's SEC filings.

For more information contact
Media:
Leticia Lowe
Phone   713.207.7702
Investors:
David Mordy
Phone   713.207.6500

 

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SOURCE CenterPoint Energy, Inc.

 Recent News

 

 
In celebration of Natural Gas Utility Workers Day, CenterPoint Energy honors team members who work every day to serve customers and communities

Houston – March 18, 2025 – Every year, March 18 is recognized as Natural Gas Utility Workers Day, which is a moment to pause and honor the important role natural gas utility workers play in serving as emergency responders and keeping natural gas safely flowing to the businesses and homes in the many communities CenterPoint Energy is privileged to serve. CenterPoint honors the company's employees and those who work throughout the natural gas industry for their tireless work in providing safe, reliable and resilient service to those who rely on natural gas.

CenterPoint's approximately 3,500 natural gas utility workers play a critical role in installing and maintaining natural gas infrastructure such as pipelines and meters, supporting the delivery of energy service to customers, educating the public on natural gas safety and adhering to rigorous safety standards to protect their communities and the environment.

“Our natural gas utility workforce keeps safety at the forefront of all they do. Whether installing natural gas service or responding to emergency calls from customers, our workers focus on delivering resilient, readily available energy solutions for customers. No matter the temperature outside nor the time of day, our natural gas workers are there to help meet the needs of our customers and communities to keep them safe, maintain warmth and enable possibilities to support business needs. We honor and celebrate natural gas utility workers, not just today, but for the work they do every day to help keep us all safe," said Richard Leger, CenterPoint's Senior Vice President, Gas Business.

At CenterPoint, natural gas utility workers serve more than 4.3 million customers across six states, monitor and maintain more than 75,000 miles of distribution pipeline and deploy advanced leak detection technologies to monitor more than 80% of the company's natural gas assets.

In 2024 alone, the company's natural gas utility workers helped:

  • Replace more than 470 miles of pipeline to help advance efforts to modernize the company's natural gas distribution systems using modern construction materials and installation methods, including efforts to replace cast iron infrastructure.
  • Deploy more than 250,000 natural gas smart meters across the company's service area, which include enhanced safety and communications features.
  • Complete more than 2.5 million locates of the company's natural gas facilities, which help customers and community members dig safely and mitigate potential service disruptions.

Tips for customers to stay safe

Safety is CenterPoint's top priority. In addition to the company's employees' commitment to working safely, the company would like to remind customers to always keep natural gas safety top of mind by:

  • Calling before your dig: Anyone planning a project that requires digging should contact 811 at least two days prior to their work starting to have underground utilities located at no cost.
  • Learning to recognize a natural gas leak by using one's eyes, ears and noses:
    • Look for signs of a natural gas leak including persistent bubbling in standing water and discolored or dead vegetation around a pipeline.
    • Listen for any unusual noises such as whistling, hissing or roaring sounds.
    • Smell for the distinctive, strong odor, often compared to rotten eggs or sulfur from mercaptan which is added to natural gas for safety detection purposes.
  • Immediately reporting a suspected natural gas leak: If there's a “rotten egg" odor of natural gas present, immediately leave on foot, go to a safe location and call both 911 and CenterPoint Energy. Don't use electric switches and outlets, phones (including cell phones), drive or start a car or do anything that could cause a spark inside or close to the location.

To learn more about CenterPoint's commitment to natural gas safety, visit CenterPointEnergy.com/Safety.

Images associated with this release can be found at: https://cnplibrary.canto.com/b/UJQKH. These photos are made available courtesy of CenterPoint Energy.

​
CenterPoint Energy Taking Safety Actions to Address Increased Wildfire Risk in Parts of the Greater Houston Area

Red Flag Warning in effect for large portions of Texas and the Greater Houston area from noon to 9 p.m. on Saturday; high wind gusts, low humidity and fire risk anticipated

CenterPoint has taken a series of actions to prepare equipment and approximately 1,000 workers ready to respond today 

Company continues to communicate with customers about the potential for temporary outages in some areas due to wildfire conditions 

HOUSTON, March 15, 2025 - CenterPoint Energy is taking a series of precautionary actions to help protect customers and communities and address elevated wildfire risk in parts of the Greater Houston area, as the National Weather Service has issued a Red Flag Warning from noon until 9 p.m. today. CenterPoint has actively prepared for potentially dangerous weather conditions, including high wind gusts, dry fuels and low humidity, by conducting pre-inspections of electric and natural gas equipment, adjusting power line safety settings in higher-risk areas, communicating with customers and working closely with local emergency agencies. Today, CenterPoint has approximately 1,000 line and vegetation workers prepared to respond to the evolving weather conditions.

Over the last day, CenterPoint has notified customers in the Cypress, Fort Bend and Katy areas through the company's Power Alert Service about the possibility that extreme weather and wind conditions could result in some temporary safety outages this afternoon or tonight.

"While we have had some precipitation with the passing front this morning, we must remain vigilant. As fire weather conditions quickly evolved and escalated across the state, CenterPoint has been actively preparing for potential impacts to the system and is ready to respond to the heightened risk today. Over the last several days, our teams have completed a series of actions to help protect our customers and communities, including inspecting critical equipment, clearing hazardous vegetation near power lines, adjusting safety settings in higher-risk areas and pre-positioning crews to quickly restore power if temporary safety outages occur. We will continue to keep customers informed of our efforts and how they can stay prepared before and during extreme weather," said Don Daigler, Senior Vice President, Emergency Planning & Response.

Key Actions to Help Keep Customers Safe
CenterPoint's safety preparations over the last several days include the following key actions:

  • Inspecting and Hardening Key Power Lines: Inspecting power lines in areas of heightened fire risk, clearing hazardous vegetation near power lines and conducting repairs where needed, ahead of potential extreme weather.
  • Inspecting Natural Gas Facilities: Inspecting gas facilities in areas of heightened fire risk and clearing hazardous vegetation near facilities ahead of potential extreme weather.
  • Adjusting Safety Settings: Adjusting the settings on some power lines for safety between noon and 9 p.m. today.
  • Bringing on Additional Crews to Respond: Positioning CenterPoint crews and additional contractors to respond to any power outages or natural gas service interruptions that may occur. Additional resources will be utilized to safely restore service as quickly as possible when conditions allow.
  • Coordinating with Local Emergency Partners: Proactively sharing information with state, county and local leaders.
  • Communicating with Customers: Proactively communicating with approximately 330,000 customers in the Cypress, Fort Bend and Katy areas by phone, text or email about the potential for temporary safety outages due to high fire danger.

Important Safety Tips for Customers

CenterPoint encourages all customers to stay informed about weather conditions and make a plan to stay safe, including during a potential power outage. Customers can also get the latest information on CenterPoint's preparedness and response efforts and view important safety tips by visiting CenterPointEnergy.com/StormCenter. Additional preparation and safety tips are available at Ready.gov. 

How to Stay Informed: Sign Up for PAS
CenterPoint electric customers are encouraged to enroll in the company's Power Alert Service® to receive outage details, estimated restoration times and customer-specific restoration updates by phone call, text or email. Customers can also stay up to date with CenterPoint's new and improved, cloud-based Outage Tracker, available in English and Spanish, which allows customers to see outages by county, city and zip code.

Customers can also follow @CenterPoint_TX to receive the most up-to-date information on the company's operations in the Greater Houston area and across Texas.

For the latest weather information for the Greater Houston area, view updates from the National Weather Service Forecast Office in Houston/Galveston at weather.gov/hgx.

For more information, contact:
Communications
Media.Relations@CenterPointEnergy.com

SOURCE CenterPoint Energy

CenterPoint Energy assessing damage, restoring power following overnight storms in southwestern Indiana

​​Evansville, Ind. – March 15, 2025 – CenterPoint Energy crews are actively assessing damage and making repairs to its electric system after severe storms moved through southwestern Indiana overnight. The company's natural gas system did not experience any major impacts. The storm system brought wind gusts up to 60 mph, with higher gusts reported in some areas, resulting in impacts across the company's electric system. As of 2:30 p.m., approximately 1,600 customers remain without power.

CenterPoint's restoration efforts underway
Damage assessments remain ongoing, and crews are focused on downed power lines, damaged poles and other storm-related impacts to the company's electric system.

According to the National Weather Service, more rain and scattered thunderstorms are expected Saturday. Due to these weather events, the outage count is likely to continue to change throughout the day. Additionally, outage numbers may shift as crews isolate sections of the system for repairs or identify new issues requiring additional work.

“Crews are making steady progress, and we appreciate our customers' patience as we work through the remaining outages," said Shane Bradford, CenterPoint's Vice President, Indiana Electric. “As weather continues to move through the area, restoration may be delayed as crews pause until safe to continue working, however, we remain focused on safely restoring power to every impacted customer as quickly as possible."

As restoration progresses and weather conditions improve, efforts will transition from large-scale outages affecting multiple customers to localized outages affecting smaller numbers of customers. Some of these repairs require extensive work, such as replacing broken poles or restoring service to individual customers who have damage to customer-owned electrical equipment.

What customers need to know about power restoration and repairs
When restoring power after service interruptions, CenterPoint follows a prioritization process that begins with critical infrastructure, followed by repairs that restore service to the greatest number of customers before addressing individual outages.

Additionally, some customers may experience delays if repairs are needed at their home or business. One common issue after storms is damage to a weatherhead—the point where power enters a home—which is customer-owned equipment. If a weatherhead is damaged, customers must have a licensed electrician make necessary repairs before CenterPoint can restore service. After repairs are completed, customers should call 800-227-1376 to request reconnection.

Safety tips
CenterPoint encourages customers to take steps to prepare for severe weather:

  • Downed power line safety: Stay at least 35 feet away from downed power lines and report them by calling 800-227-1376.
  • Work crew safety: Be cautious around work crews and give them plenty of room to safely assess damage and make repairs.
  • Generator safety: Never connect a portable electric generator directly to a building's electrical system during a power outage; electricity could back-feed into the power lines, potentially endangering CenterPoint workers. Only use a portable generator in a well-ventilated area and never run it inside or in a garage to avoid carbon monoxide fumes, which can be deadly.
  • Call before digging: Call 811 to locate utility lines prior to digging on a property.

 
Electric customers encouraged to enroll in Power Alert Service®
Customers are encouraged to enroll in Power Alert Service® to receive outage details, estimated restoration times, as available or determined, and customer-specific restoration updates in the event of severe weather. With the option to receive updates via phone call, text or email, Power Alert Service® helps keep customers informed of restoration progress during an outage event.

Customers can get storm-related electric, natural gas and flooding safety tips at CenterPointEnergy.com/StormCenter.​

CenterPoint Energy returns to normal operations as NWS Red Flag Warning expires, weather and wind threat ends for Greater Houston region

​Houston – March 15, 2025 – CenterPoint Energy is returning to normal operations as the National Weather Service's Red Flag Warning and risks of fire weather and strong wind end for the Greater Houston area. The company's system performed well, with less than one percent of customers experiencing an outage throughout today's high wind gusts.

Over the last several days, CenterPoint actively prepared for potentially dangerous weather conditions by conducting pre-inspections of electric and natural gas equipment, adjusting power line safety settings in higher-risk areas, communicating with customers and working with local emergency agencies.

Key Actions to Help Keep Customers Safe
Leading up to today's Red Flag Warning, CenterPoint's safety preparations included the following key actions:

  • Inspected and Hardened Key Power Lines: Inspected power lines in areas of heightened fire risk, cleared hazardous vegetation near power lines and conducted repairs where needed, ahead of potential extreme weather.
  • Inspected Natural Gas Facilities: Inspected gas facilities in areas of heightened fire risk and cleared hazardous vegetation near facilities ahead of potential extreme weather.
  • Adjusted Safety Settings: Adjusted the settings on some power lines for safety between noon and 9 p.m. today.
  • Brought on Additional Crews to Respond: Positioned CenterPoint crews and additional contractors to respond to any power outages or natural gas service interruptions that may occur.
  • Coordinated with Local Emergency Partners: Proactively shared information with state, county and local leaders.
  • Communicated with Customers: Proactively communicated with approximately 330,000 customers in the Cypress, Fort Bend and Katy areas by phone, text or email about the potential for temporary safety outages due to high fire danger.

“We'd like to thank our customers for their patience as some might have experienced temporary outages today as we took the necessary precautions to protect the community and our electric system from the fire weather conditions," said Tony Gardner, Senior Vice President and Chief Customer Officer. “While today's weather risk has passed, we encourage customers to take this opportunity to enroll in the company's Power Alert Service® and verify contact information so that when the next weather event might impact Greater Houston area, CenterPoint can contact you with important information regarding your electric service."

CenterPoint electric customers are encouraged to enroll in the company's Power Alert Service® to receive outage details, estimated restoration times and customer-specific restoration updates by phone call, text or email.

Customers can also follow @CenterPoint_TX to receive the most up-to-date information on the company's operations in the Greater Houston area and across Texas.

CenterPoint Energy working to restore remaining customers out from overnight severe weather

​Evansville, Ind. – March 15, 2025 – CenterPoint Energy crews have completed significant repairs to its electric system after severe storms moved through southwestern Indiana Friday night into Saturday morning. As of 9:30 p.m., approximately 200 customers remain without power. With nearly all customers restored, the majority of those still out will remain without service overnight as crews continue addressing the final localized outages.

“Crews have worked tirelessly throughout the day to restore power to the majority of customers impacted by this weekend's severe weather, and we appreciate their patience," said Shane Bradford, CenterPoint's Vice President, Indiana Electric. “As we continue the final phase of restoration, our teams will focus on the remaining smaller and individual outages and will continue working overnight and into Sunday until service is restored to all customers."
 
Working through intermittent rain, gusty winds and occasional lightning throughout the day, crews safely repaired extensive storm damage, including downed power lines, damaged poles and other storm-related impacts to the company's electric system.

“Our internal and contracted crews faced challenging conditions today while keeping safety at the forefront. We appreciate their dedication as they worked to restore service to our customers," Bradford added.

At this stage, most of the remaining outages are localized, affecting smaller numbers of customers. Some of these repairs require extensive work, such as replacing broken poles or restoring service to individual customers who have damage to customer-owned electrical equipment.

Customers may experience delays if repairs are needed at their home or business. One common issue after storms is damage to a weatherhead—the point where power enters a home—which is customer-owned equipment. If a weatherhead is damaged, customers must have a licensed electrician make necessary repairs before CenterPoint can restore service. After repairs are completed, customers should call 800-227-1376 to request reconnection.

Customers can stay informed on remaining updates by following CenterPoint on Facebook and X (formerly Twitter).​