{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-25-047007","form_type":"8-K","ticker":"NRG","cik":"0001013871","company_name":"NRG ENERGY, INC.","filed_at":"2025-05-12T23:59:59+00:00","discovered_at":"2026-05-14T18:02:47.150147+00:00","generated_at":"2026-05-21T22:41:01.908677+00:00","sec_items":["7.01","1.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.95,"calibrated_materiality_score":0.95,"confidence":"high","headline":"NRG to acquire 13 GW natural gas portfolio and VPP platform from LS Power for ~$12B","bullets":["Acquires 18 natural gas facilities (13 GW) and CPower C&I VPP platform (6 GW) for ~$12B enterprise value (7.5x 2026 EV/EBITDA).","Consideration: $6.4B cash, $2.8B stock (24.25M shares at $114.98 VWAP), $3.2B net debt assumed; LS Power gets ~11% pro forma stake with 6-month lock-up.","Expected close Q1 2026 subject to HSR, FERC, and NYSPSC approvals; NRG targets <3.0x net debt/EBITDA leverage within 24-36 months.","NRG raises 5-year Adjusted EPS CAGR target to at least 14% from at least 10%; expects ~$9.1B in capital returns over that period.","Reiterates 2025 capital plan: $1.3B in share repurchases and ~$345M in common dividends."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-25-047007","json":"https://secwatch.observer/filing/0001104659-25-047007.json","markdown":"https://secwatch.observer/filing/0001104659-25-047007.md","text":"https://secwatch.observer/filing/0001104659-25-047007.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1013871/000110465925047007/0001104659-25-047007-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1013871/000110465925047007/tm2514561d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-21T22:41:01.908677+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}