Talen Energy Announces Plan to Enable Restricted Shares of Common Stock to Trade on OTCQX

Rhea-AI Summary

Talen Energy (OTCQX: TLNE) announced a plan to enable restricted shares of common stock to trade on the OTCQX. The exchange of restricted shares for unrestricted shares will increase liquidity for shareholders, allowing trading without restriction.

HOUSTON, April 29, 2024 /PRNewswire/ -- Talen Energy Corporation (the "Company") (OTCQX: TLNE) announced today that the Company's outstanding restricted shares of common stock issued with or under CUSIP No. 87422Q208 (the "Shares") will become eligible to be exchanged for unrestricted shares issued with or under CUSIP No. 87422Q109 on May 17, 2024. The completion of this exchange will result in the Shares trading on the OTCQX® Best Market ("OTCQX"). The Company intends to move forward with the exchange of all restricted Shares as soon as possible upon the Shares becoming eligible. This will not require any action on the part of the Company's shareholders.

The exchange is intended to provide all shareholders with increased liquidity, permitting the Shares to trade without restriction, subject to each holder's compliance with (i) securities laws and (ii) rules promulgated by OTCQX. The exchange will occur through the facilities of The Depository Trust Company.

About Talen

The Company owns and operates approximately 12.4 gigawatts of power infrastructure in the United States. We produce and sell electricity, capacity, and ancillary services into wholesale U.S. power markets, including PJM, ERCOT and WECC, with our generation fleet principally located in the Mid-Atlantic, Texas and Montana. Talen is headquartered in Houston, Texas. For more information visit https://www.talenenergy.com/.

Talen trades on the OTCQX^® Best Market under the ticker "TLNE." OTCQX companies meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, and have a professional third-party sponsor introduction. Investors can find current financial disclosures and Real-Time Level 2 quotes for the Company on www.otcmarkets.com/stock/TLNE/overview.

Additional Information

For additional information and updates about Talen, please visit our Investor Relations webpage at https://talenenergy.investorroom.com, or contact:

Investor Relations:
Ellen Liu
Senior Director, Investor Relations
InvestorRelations@talenenergy.com
281-203-5435

Media:
Taryne Williams
Director, Corporate Communications
Taryne.Williams@talenenergy.com
610-601-0327

Forward Looking Statements

This communication contains forward-looking statements within the meaning of the federal securities laws, which statements are subject to substantial risks and uncertainties. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this communication, or incorporated by reference into this communication, are forward-looking statements. Throughout this communication, we have attempted to identify forward-looking statements by using words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecasts," "goal," "intend," "may," "plan," "potential," "predict," "project," "seek," "should," "will," or other forms of these words or similar words or expressions or the negative thereof, although not all forward-looking statements contain these terms. Forward-looking statements address future events and conditions concerning, among other things capital expenditures, earnings, litigation, regulatory matters, hedging, liquidity and capital resources and accounting matters. Forward-looking statements are subject to substantial risks and uncertainties that could cause our future business, financial condition, results of operations or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this communication. All of our forward-looking statements include assumptions underlying or relating to such statements that may cause actual results to differ materially from expectations and are subject to numerous factors that present considerable risks and uncertainties.

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SOURCE Talen Energy Corporation

FAQ

When will Talen Energy's restricted shares of common stock become eligible to be exchanged for unrestricted shares?

Talen Energy's restricted shares will become eligible for exchange on May 17, 2024.

How will the exchange of restricted shares benefit shareholders?

The exchange will increase liquidity for shareholders, allowing the shares to trade without restriction once exchanged.

Will shareholders need to take any action for the exchange to occur?

No, the exchange will not require any action on the part of the Company's shareholders.

On which market will the Shares be trading after the exchange?

The Shares will trade on the OTCQX Best Market after the exchange is completed.