Financing ·
PNW establishes $500M equity distribution agreement to sell shares via at-the-market offerings
PNWPinnacle West Capital Corp
Pinnacle West Capital Corporation entered into an Equity Distribution Agreement on August 4, 2026, establishing a sales agreement with multiple financial institutions to sell shares of its common stock. The company may offer and sell up to $500,000,000 in aggregate gross sales price of shares from time to time through at-the-market offerings or forward sale agreements. Managers receive commissions of up to 1% of the gross sales price. Net proceeds are intended for capital expenditures at Arizona Public Service Company, repayment of commercial paper, and general corporate purposes. Pinnacle West Capital Corporation operates as a utility holding company primarily owning Arizona Public Service Company.