NextEra Energy Partners, LP announces anticipated effective date of resale registration statement with respect to common units issuable upon conversion of 2.50% convertible senior notes due 2026

Rhea-AI Summary

NextEra Energy Partners, LP (NYSE: NEP) Anticipates Declaration of Effectiveness of Resale Registration Statement

Positive

• The company is taking proactive steps to ensure the resale registration statement is declared effective, which could potentially increase investor confidence and liquidity in the stock.

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• None.

JUNO BEACH, Fla., Nov. 20, 2023 /PRNewswire/ -- NextEra Energy Partners, LP (NYSE: NEP) today announced that it anticipates that the resale registration statement on Form S-3, previously filed by NextEra Energy Partners with the Securities and Exchange Commission (the "Commission") on Nov. 13, 2023 (the "resale registration statement"), will be declared effective by the Commission on or about Dec. 12, 2023. The registration statement will register the resale of NextEra Energy Partners' common units issuable upon conversion of its previously issued $500 million in aggregate principal amount of 2.50% convertible senior notes due 2026 (the "notes"). The notes were originally sold on Dec. 12, 2022. At the same time, a registration rights agreement was entered into between NextEra Energy Partners and the initial purchaser of the notes, which required the filing of the resale registration statement.

In order for a holder or beneficial owner of the notes to be named as a selling securityholder and to have its common units included in the resale registration statement at the time of effectiveness, the holder or beneficial owner must complete and deliver a selling securityholder notice and questionnaire, on or before Nov. 28, 2023, to

NextEra Energy Partners, LP
700 Universe Boulevard
Juno Beach, FL 33408
Attention: Corporate Secretary
Phone: 561-694-4700
Fax: 561-691-7702

The selling securityholder notice and questionnaire, and further information, may be obtained from NextEra Energy Partners as specified above.

A registration statement relating to these securities has been filed with the Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

The conversion rate for the notes, which is subject to adjustment as specified in the notes indenture, currently is 10.5339 NextEra Energy Partners' common units per $1,000 of the notes, which is equivalent to a conversion price of approximately $94.9316 per common unit. If the notes are converted, NextEra Energy Partners will pay cash up to the aggregate principal amount of the notes and pay or deliver, cash, NextEra Energy Partners' common units or a combination of cash and common units, above the aggregate principal amount, with such settlement at NextEra Energy Partners' election. NextEra Energy Partners does not anticipate issuing common units based, in part, on the conversion price of the notes.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

NextEra Energy Partners, LP
NextEra Energy Partners, LP (NYSE: NEP) is a growth-oriented limited partnership formed by NextEra Energy, Inc. (NYSE: NEE). NextEra Energy Partners acquires, manages and owns contracted clean energy projects with stable, long-term cash flows. Headquartered in Juno Beach, Florida, NextEra Energy Partners owns interests in geographically diverse wind, solar and energy storage projects in the U.S. as well as natural gas infrastructure assets in Texas and Pennsylvania. For more information about NextEra Energy Partners, please visit: www.NextEraEnergyPartners.com.

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SOURCE NextEra Energy Partners, LP

FAQ

What is NextEra Energy Partners, LP (NYSE: NEP) announcing?

NextEra Energy Partners, LP (NYSE: NEP) is announcing that it anticipates the resale registration statement on Form S-3, previously filed with the Securities and Exchange Commission, will be declared effective.

When was the resale registration statement filed?

The resale registration statement was previously filed by NextEra Energy Partners with the Securities and Exchange Commission on Nov. 13, 2023.

What is the potential impact of the resale registration statement being declared effective?

The potential impact could be an increase in investor confidence and liquidity in the stock, as well as a positive signal for the company's future prospects.