Deal Description: On January 10, 2024, CenterPoint Energy, Inc. (“CenterPoint”) (NYSE: CNP) established an at-the-market program to sell shares of its common stock having an aggregate gross sales price of up to $500 million from time to time to or through the managers or pursuant to forward sale agreements. In connection with any forward sale agreement, the relevant forward purchaser will borrow from third parties and, through its affiliated forward seller, sell a number of shares of CenterPoint’s common stock equal to the number of shares of common stock underlying the particular forward sale agreement. This was CenterPoint’s inaugural establishment of an at-the-market program with a forward component.

CenterPoint intends to use any net proceeds from the sales of its common stock for general corporate purposes, which may include, among other things, the capital expenditure programs of its operating subsidiaries and the repayment of a portion of its outstanding commercial paper.

CenterPoint is a public utility holding company headquartered in Houston, Texas. CenterPoint, through its operating subsidiaries, owns and operates electric transmission, distribution and generation facilities and natural gas distribution facilities and provides energy services and other related activities.

Baker Botts represented CenterPoint Energy in the transaction and has represented CenterPoint Energy and its predecessors for over 100 years.

Baker Botts Lawyers/Office Involved:

Corporate: Tim Taylor (Partner, Houston); Clint Rancher (Partner, Houston); Rob Cowan (Associate, Houston); Sarah Dyer (Associate; Houston). 

Finance: Jonathan Goldstein (Partner, New York).

Tax: Mike Bresson (Partner, Houston); Jared Meier (Senior Associate, Houston).

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