IDACORP enters forward sale agreement for 3.22M shares at $90.016/share

IDACORP INC

Aggregate of 3,221,982 shares subject to forward sale agreements with Morgan Stanley & Co. LLC.
Initial forward price $90.016/share; settlement at IDACORP's discretion by November 7, 2024.
Underwriters sold borrowed shares in public offering; proceeds deferred until physical settlement.
Dilution to EPS occurs upon physical or net share settlement; no immediate EPS impact under treasury stock method unless market price exceeds forward price.
Forward price subject to daily adjustment based on overnight bank funding rate minus 0.75% spread and expected dividends.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

IDACORP INC entered into Forward Sale Agreement with Morgan Stanley & Co. LLC valued at aggregate of 2,801,724 shares (effective 2023-11-07).

Action: entry
Agreement: equity purchase
Counterparty: Morgan Stanley & Co. LLC
Value: aggregate of 2,801,724 shares
Effective: 2023-11-07

Exact text from the filing

On November 7, 2023, IDACORP, Inc. ("IDACORP”) entered into a forward sale agreement (the “Forward Sale Agreement”) with Morgan Stanley & Co. LLC (the “Forward Counterparty”), relating to an aggregate of 2,801,724 shares (the “Forward Shares”) of IDACORP’s common stock, without par value (the “Common Stock”), to be borrowed from third parties and sold by the Forward Counterparty to the Underwriters

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

IDACORP INC entered into Additional Forward Sale Agreement with Morgan Stanley & Co. LLC valued at aggregate of 420,258 shares of Common Stock (effective 2023-11-08).

Action: entry
Agreement: equity purchase
Counterparty: Morgan Stanley & Co. LLC
Value: aggregate of 420,258 shares of Common Stock
Effective: 2023-11-08

Exact text from the filing

On November 8, 2023, IDACORP entered into an additional forward sale agreement with the Forward Counterparty relating to an aggregate of 420,258 shares of Common Stock (the “Additional Forward Sale Agreement”

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

IDACORP INC entered into Underwriting Agreement with Wells Fargo Securities, LLC and Morgan Stanley & Co. LLC (effective 2023-11-07).

Action: entry
Agreement: underwriting
Counterparty: Wells Fargo Securities, LLC and Morgan Stanley & Co. LLC
Effective: 2023-11-07

Exact text from the filing

On November 7, 2023, IDACORP entered into an Underwriting Agreement (the “Underwriting Agreement”) with Wells Fargo Securities, LLC and Morgan Stanley & Co. LLC, as representatives of the several underwriters

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23 material agreements filed in the last 30 days. Browse all material agreements →

IDACORP INC filing history →

Source: SEC EDGAR

accession 0001057877-23-000064

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