Hunton Andrews Kurth Advises on American Electric Power Company, Inc.’s At-the-Market Program with a Forward Component

Hunton Andrews Kurth LLP advised the sale agents in connection with the American Electric Power Company, Inc’s (AEP) commencement of an at-the-market program to sell up to an aggregate offering price of $1.7 billion of AEP’s common stock from time to time through either the sale agents or forward counterparties, who will, at AEP’s request, borrow from third parties. The program launched on November 16, 2023.

AEP, based in Columbus, Ohio, is one of the largest investor-owned electric public utility holding companies in the United States, and its electric utility operating companies provide generation, transmission, and distribution services to approximately 5.6 million customers in 11 states. AEP has approximately 225,000 miles of distribution lines, 40,000 circuit miles of transmission lines and approximately 25,000 MWs of regulated owned generating capacity. AEP’s family of companies include utilities AEP Texas Inc., Appalachia Power Company, Indiana Michigan Power Company, Kentucky Power Company, Kingsport Power Company, Ohio Power Company, Public Service Company of Oklahoma, Southwestern Electric Power Company and Wheeling Power Company.

The Hunton Andrews Kurth team included Steven C. Friend, Joseph Buonanno, Michelle G. Chan, Jingyi “Alice” Yao and Thomas White. Robert J. McNamara, William Freeman and Drew Hermiller provided tax advice.