India, March 24 -- American Electric Power (AEP) announced the pricing of a registered underwritten offering of about 19.61 million shares of its common stock at a price to the public of $102.00 per share.
AEP entered into forward sale agreements with each of Citibank, N.A. and Barclays Bank PLC or the "forward counterparties" under which AEP agreed to issue and sell to the forward counterparties an aggregate of 19.61 million shares of its common stock.
In addition, the underwriters of the offering have been granted a 30-day option to purchase up to an additional 2.94 million shares of AEP's common stock upon the same terms. If the underwriters exercise their option to purchase additional shares, AEP expects to enter into additional forwa...