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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
May
22, 2024
Commission |
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Registrant; State of Incorporation; |
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IRS Employer |
File Number |
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Address; and Telephone Number |
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Identification No. |
001-09057 |
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WEC ENERGY GROUP, INC. |
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39-1391525 |
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(A Wisconsin Corporation) |
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231 West Michigan Street |
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P.O. Box 1331 |
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Milwaukee, WI 53201 |
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(414) 221-2345 |
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
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Trading Symbol(s) |
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Name
of each exchange on which registered |
Common Stock, $.01 Par Value |
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WEC |
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New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
On May 22, 2024, WEC Energy Group, Inc. (the “Company”)
issued a press release announcing a proposed offering of $750,000,000 aggregate principal amount of convertible senior notes due 2027
(the “2027 Notes”) and $750,000,000 aggregate principal amount of convertible senior notes due 2029 (the “2029 Notes”
and, together with the 2027 Notes, the “Notes”) in a private offering to persons reasonably believed to be qualified institutional
buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. In addition, the Company expects to grant the initial purchasers
an option to purchase, within a 13-day period beginning on, and including, the date the Notes are first issued, up to an additional
$112,500,000 aggregate principal amount of the 2027 Notes and up to an additional $112,500,000 aggregate principal amount of the 2029
Notes.
A copy of the press release is attached hereto
as Exhibit 99.1 and incorporated by reference herein.
ITEM 9.01. |
FINANCIAL STATEMENTS AND EXHIBITS |
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(d) Exhibits. |
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: May 22, 2024 |
WEC ENERGY GROUP, INC. |
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(Registrant) |
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/s/ WILLIAM J. GUC |
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William J. Guc, Vice President and Controller |
Exhibit
99.1
From: |
Brendan Conway (media) |
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414-221-4444 |
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brendan.conway@wecenergygroup.com |
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|
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Beth Straka (investment community) |
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414-221-4639 |
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beth.straka@wecenergygroup.com |
May 22, 2024
WEC Energy Group announces offering of Convertible Senior Notes
due 2027 and Convertible Senior Notes due 2029
MILWAUKEE, May 22, 2024 - WEC Energy Group, Inc. (NYSE: WEC) today
announced that it intends to offer, subject to market and other conditions, $750,000,000 in aggregate principal amount of its convertible
senior notes due 2027 (the “2027 convertible notes”) and $750,000,000 in aggregate principal amount of its convertible senior
notes due 2029 (the “2029 convertible notes” and, together with the 2027 convertible notes, the “convertible notes”)
in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities
Act”). In addition, WEC Energy Group expects to grant the initial purchasers of the convertible notes an option to purchase, within
a 13-day period beginning on, and including, the date the convertible notes are first issued, up to an additional $112,500,000 in aggregate
principal amount of the 2027 convertible notes and up to an additional $112,500,000 in aggregate principal amount of the 2029 convertible
notes.
Final terms of each series of the convertible notes, including the
initial conversion price, interest rate and certain other terms of the convertible notes, will be determined at the time of pricing. The
convertible notes will be senior, unsecured obligations of WEC Energy Group. Interest on the convertible notes will be paid semiannually.
The convertible notes will mature on June 1, 2027 (in the case of the 2027 convertible notes) and June 1, 2029 (in the case of the 2029
convertible notes), unless earlier converted or repurchased in accordance with their terms or (in the case of the 2029 convertible notes)
redeemed by WEC Energy Group.
Prior to March 1, 2027 (in the case of the 2027 convertible notes)
or March 1, 2029 (in the case of the 2029 convertible notes), holders will have the right to convert their convertible notes only upon
the occurrence of certain events and during certain periods. From and after March 1, 2027 (in the case of the 2027 convertible notes)
or March 1, 2029 (in the case of the 2029 convertible notes), holders will have the right to convert their convertible notes at any time
until the close of business on the second scheduled trading day immediately preceding the maturity date of the applicable series of convertible
notes. Upon conversion, WEC Energy Group will pay cash up to the aggregate principal amount of the convertible notes of the applicable
series to be converted and pay or deliver, as the case may be, cash, shares of WEC Energy Group’s common stock, or a combination
of cash and shares of common stock, at WEC Energy Group’s election, in respect of the remainder, if any, of WEC Energy Group’s
conversion obligation in excess of the aggregate principal amount of the convertible notes of the applicable series being converted.
WEC Energy Group intends to use the net proceeds from this offering
for general corporate purposes, including the repayment of short-term indebtedness.
This press release shall not constitute an offer to sell or a solicitation
of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would
be unlawful. The offer and sale of the convertible notes and the shares of common stock issuable upon conversion of the convertible notes,
if any, have not been, and will not be, registered under the Securities Act or the securities laws of any other jurisdiction, and the
convertible notes and such shares of common stock may not be offered or sold without registration or an applicable exemption from registration
requirements.
WEC Energy Group (NYSE: WEC), based in Milwaukee, is an energy company
serving 4.7 million customers in Wisconsin, Illinois, Michigan and Minnesota.
The company’s principal utilities are We Energies, Wisconsin
Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources and Upper Michigan Energy Resources.
Another major subsidiary, We Power, designs, builds and owns electric generating plants. In addition, WEC Infrastructure LLC owns a growing
fleet of renewable generation facilities in states ranging from South Dakota to Texas.
Forward-looking statements
Certain statements contained in this press release are “forward-looking
statements” under federal securities laws. These statements are based upon management’s current expectations and are subject
to risks and uncertainties that could cause actual results to differ materially from those contemplated in the forward-looking statements.
Readers are cautioned not to place undue reliance on these statements. Forward-looking statements include, among other things, statements
concerning the anticipated terms of the convertible notes being offered, the completion, timing and size of the offering and the intended
use of proceeds.
Factors that could cause actual results to differ materially from
those contemplated in any forward-looking statements include, but are not limited to: market conditions, including market interest rates;
the trading price and volatility of WEC Energy Group’s common stock; and risks relating to WEC Energy Group’s business, including
those described under the heading “Factors Affecting Results, Liquidity and Capital Resources” in Management’s Discussion
and Analysis of Financial Condition and Results of Operations and under the headings “Cautionary Statement Regarding Forward-Looking
Statements” and “Risk Factors” in the company’s Annual Report on Form 10-K for the year ended December 31, 2023,
and in subsequent reports filed with the Securities and Exchange Commission. There can be no assurance that the planned offering of convertible
notes will be completed on the anticipated terms, or at all. Except as may be required by law, WEC Energy Group expressly disclaims any
obligation to update any forward-looking information.
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WEC Energy (NYSE:WEC)
過去 株価チャート
から 5 2024 まで 6 2024
WEC Energy (NYSE:WEC)
過去 株価チャート
から 6 2023 まで 6 2024