Pinnacle West enters $500M at-the-market equity distribution agreement

PINNACLE WEST CAPITAL CORP

Agreement with BMO, BTIG, Citigroup, Morgan Stanley, RBC, Scotia, TD, Truist as managers and forward sellers.
Up to $500M aggregate gross sales price of common stock; commission up to 1% of gross sales price.
Proceeds to fund APS capital expenditures, repay commercial paper, and for general corporate purposes.
Forward sale agreements allow borrowing and selling shares; company may physically settle for net proceeds.

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