Constellation Energy (CEG) disclosed that certain selling shareholders entered into an agreement to sell 11 million shares of common stock in a secondary offering. Concurrently, the company repurchased 2 million of those shares from the underwriters for approximately $558 million. The company did not sell any primary shares in the offering and received no proceeds from the sale.
Key Details
- Secondary Offering: Selling shareholders sold 11,000,000 shares of common stock. The underwriters have a 30-day option to purchase up to an additional 1,350,000 shares.
- Share Repurchase: The company purchased 2,000,000 shares from the underwriters for a total of approximately $558 million as part of its existing share repurchase program.
- Remaining Authorization: After the repurchase, approximately $3.5 billion of authority remains under the company's buyback program.
- Timeline: The underwriting agreement was dated June 1, 2026, and both the offering and the share repurchase closed on June 2, 2026.