OGE Energy Corp. Announces Public Offering of $345 Million of Shares of Common Stock

Core Viewpoint - OGE Energy Corp. has initiated a public offering of $345 million in common stock, with plans to use the proceeds for capital expenditures and general corporate purposes [1][4]. Offering Details - The company expects to sell approximately $172.5 million of shares directly to underwriters and an additional $172.5 million through forward sale agreements [1]. - An option to purchase up to $51.75 million of additional shares will be granted to the underwriters [1]. - Morgan Stanley and J.P. Morgan are acting as joint lead bookrunners for the offering [2]. Forward Sale Agreements - OGE Energy Corp. will enter into forward sale agreements with Morgan Stanley and J.P. Morgan, agreeing to sell the same number of shares borrowed from third parties [3]. - The initial forward sale price per share will match the price at which underwriters purchase shares in the offering, with settlement expected within 18 months [3]. Use of Proceeds - The net proceeds from the offering will be allocated to fund capital projects, including the Horseshoe Lake generating units and the Ft. Smith to Muskogee Transmission line, as well as for debt repayment [4]. - The company will not initially receive proceeds from shares sold by forward sellers to underwriters [4]. Company Overview - OGE Energy Corp. is the parent company of OG&E, serving approximately 910,000 customers in Oklahoma and western Arkansas [6].