PRINCETON, N.J.--(BUSINESS WIRE)--Sep. 24, 2018--
Clearway Energy, Inc. (NYSE: CWEN, CWEN.A) (“Clearway Energy”) today
announced that it has commenced an underwritten public offering of
3,916,449 shares of its Class C common stock.
Clearway Energy intends to use the net proceeds from this offering to
acquire newly issued Class C units of Clearway Energy LLC (“Clearway
LLC”). Clearway Energy intends to cause Clearway LLC to use such
proceeds to partially fund the purchase price of Clearway Energy’s
acquisition of Carlsbad Energy Holdings LLC from NRG Energy, Inc. and to
pay transaction fees and expenses.
UBS Investment Bank will act as the sole book runner for the offering.
A shelf registration statement (including a prospectus) relating to the
offering has been filed with the Securities and Exchange Commission (the
“SEC”) and has become effective. Before you invest, you should read the
prospectus in that registration statement and the applicable prospectus
supplement and other documents Clearway Energy has filed or will file
with the SEC for more complete information about Clearway Energy and the
offering. You may get these documents for free by visiting EDGAR on the
SEC website at www.sec.gov.
Alternatively, Clearway Energy, UBS Investment Bank or any dealer
participating in the offering will arrange to send you the prospectus
relating to the offering if you request it by contacting UBS Securities
LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New
York, NY 10019.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. The offering is being 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 (the “Securities Act”).
About Clearway Energy
Clearway Energy, Inc., formerly NRG Yield, Inc., owns a diversified
portfolio of contracted renewable and conventional generation and
thermal infrastructure assets in the United States, including fossil
fuel, solar and wind power generation facilities that have the capacity
to support more than two million American homes and businesses. Clearway
Energy’s thermal infrastructure assets provide steam, hot and/or chilled
water, and in some instances electricity, to commercial businesses,
universities, hospitals and governmental units in multiple locations.
Clearway Energy’s Class C and Class A common stock are traded on the New
York Stock Exchange under the symbols CWEN and CWEN.A, respectively.
This news release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Forward-looking statements are subject
to certain risks, uncertainties and assumptions and typically can be
identified by the use of words such as “expect,” “estimate,” “should,”
“anticipate,” “forecast,” “plan,” “guidance,” “outlook,” “believe” and
similar terms. Although Clearway Energy believes that the expectations
are reasonable, it can give no assurance that these expectations will
prove to be correct, and actual results may vary materially.
Factors that could cause actual results to differ materially from those
contemplated above include, among others, risks and uncertainties
related to the capital markets generally, whether Clearway Energy will
consummate the offering and the anticipated use of proceeds.
Clearway Energy undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law. The foregoing
review of factors that could cause Clearway Energy’s actual results to
differ materially from those contemplated in the forward-looking
statements included in this news release should be considered in
connection with information regarding risks and uncertainties that may
affect Clearway Energy’s future results included in Clearway Energy’s
filings, or the filings of Clearway Energy LLC, with the SEC at www.sec.gov.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180924005979/en/
Source: Clearway Energy, Inc.
Clearway Energy, Inc.