NRG Energy prices 14.3M-share LS Power secondary offering at $164.00 per share
Affiliates of LS Power, which received the shares as part of NRG's January 30, 2026 acquisition of LS Power portfolio entities, agreed to sell 14,300,000 NRG common shares at $164.00 each, for about $2.35 billion in gross proceeds to the sellers. NRG receives none of the offering proceeds, but it separately agreed to repurchase $300 million of its stock from the same sellers at the offering price, with that purchase closing alongside the offering on March 4, 2026. For shareholders, the filing shows a large block of previously issued shares entering the public market, partly offset by NRG's buyback under its existing repurchase program.
Key points
- 14,300,000 shares priced at $164.00 per share; sellers' gross proceeds about $2,345,200,000 before underwriting discounts; underwriters hold a 30-day option on 2,145,000 more shares.
- NRG receives no proceeds; separate repurchase of 1,829,269 shares for about $300 million, closing March 4, 2026.
- Lock-up on the remaining 8,120,731 shares runs 45 days from March 2, 2026; NRG waived the prior lock-up that ran to July 30, 2026.
The filing
Written by AI on Nov 8, 2026, 12:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 04, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.