SIOUX FALLS, S.D., Sept. 29, 2015 /PRNewswire/ -- NorthWestern Corporation d/b/a NorthWestern Energy (NYSE: NWE) ("NorthWestern") announced today that it has commenced an underwritten public offering of 1,100,000 shares of its common stock.
NorthWestern intends to use the net proceeds from this offering to repay a portion of the short-term borrowings incurred to fund NorthWestern's recently completed acquisition of BayWa r.e. Wind LLC's 100% ownership interest in Beethoven Wind, LLC, which owns Project Beethoven, an 80 megawatt wind farm located near Tripp, South Dakota, in Hutchinson, Bon Homme and Charles Mix counties.
RBC Capital Markets, LLC ("RBC") and Robert W. Baird & Co. Incorporated are the underwriters of the offering. The underwriters may offer the shares of NorthWestern's common stock from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices relating to prevailing market prices or at negotiated prices.
When available, copies of the preliminary prospectus supplement, prospectus supplement and accompanying base prospectus relating to the offering may be obtained free of charge on the Securities and Exchange Commission's website at www.sec.gov or from RBC by sending a request to: RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, NY 10281-8098; Attention: Equity Syndicate; Phone: 877-822-4089; Email: email@example.com.
The shares of common stock will be offered and sold pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering is being made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
About NorthWestern Energy
NorthWestern provides electricity and natural gas in the Upper Midwest and Northwest, serving approximately 692,000 customers in Montana, South Dakota and Nebraska.
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SOURCE NorthWestern Corporation