secwatch.observer — SEC 8-K summary
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Issuer:     DOMINION ENERGY, INC (D)
CIK:        0000715957
Form:       8-K
Filed at:   2024-02-26T23:59:59+00:00
Accession:  0001193125-24-045358
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Dominion Energy sells 50% stake in Coastal Virginia Offshore Wind to Stonepeak for ~$3B
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- Stonepeak affiliate to contribute ~$3B net of $145M withholding for 50% non-controlling interest in CVOW project.
- Dominion retains full operational control of construction and operations; Stonepeak gets customary minority rights.
- Total construction costs capped at $11.3B for mandatory contributions; optional up to $13.7B with Dominion's share increasing if Stonepeak opts out.
- Transaction expected to close by end of 2024, subject to Virginia SCC, NC UC, BOEM approvals.
- Termination fee of $200M payable by Stonepeak under certain conditions; Stonepeak provided limited guaranty and equity/debt commitment letters.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/715957/000119312524045358/0001193125-24-045358-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/715957/000119312524045358/d766880d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-045358

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