Hunton Advises on WEC Energy Group, Inc.’s At-the-Market Program to Sell up to $1.5 Billion of Common Stock
Hunton Andrews Kurth LLP advised the sales agents, the forward sellers and the forward purchasers in connection with the establishment of an at-the-market program for WEC Energy Group, Inc. (“WEC”) to sell shares of WEC’s common stock up to an aggregate gross sales price of $1.5 billion from time to time through either the sales agents or the forward sellers, who will, at WEC’s request, borrow shares of WEC’s common stock from third parties.
WEC is a public utility holding company whose wholly-owned subsidiaries are primarily engaged in the business of providing electricity service in Wisconsin and Michigan and regulated natural gas service in Wisconsin, Illinois, Michigan and Minnesota. In addition, WEC has an approximately 60% equity interest in American Transmission Company LLC, a regulated electric transmission company. Through its subsidiaries, WEC also owns majority interests in a number of renewable generating facilities as part of its non-utility energy infrastructure business.
The Hunton team included Adam R. O’Brian, Patrick C. Jamieson, Monika M. Dziewa and Josh Van Kirk. Joseph B. Buonanno and Reuben H. Pearlman provided advice on the forward component and Robert J. McNamara, William B. Freeman, Caitlin A. Scipioni and Katherine Gallagher provided tax advice.
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