A&O Shearman represented the underwriters and forward purchasers of MGE Energy, Inc.’s public offering of 3,300,331 shares of its common stock, resulting in gross proceeds from the offering of approximately USD250m.
The offering consisted of 990,099 shares of common stock purchased by the underwriters directly from MGE Energy, together with 2,310,232 shares of common stock purchased by the underwriters from the forward sellers in connection with forward sale agreements.
Morgan Stanley & Co. LLC, Guggenheim Securities, LLC, J.P. Morgan Securities LLC, and another global financial institution acted as joint book-running managers. Morgan Stanley & Co. LLC., JPMorgan Chase Bank, National Association, and another bank acted as forward purchasers.
MGE Energy is an investor-owned public utility holding company. Its principal subsidiary, Madison Gas and Electric Company, generates and distributes electricity to approximately 170,000 customers in Dane County, Wisconsin, and distributes natural gas to approximately 180,000 customers in seven south-central and western Wisconsin counties.
The A&O Shearman team was led by Capital Markets partner Michael Kim, together with counsel Ana Aur, associate Nick Slagter, and law clerk Melani Vilenchik.
The team also included partners Geoffrey Goldman, Jason Pratt, and Larry Crouch, associates Ben Halligan, Taylor Pugliese, Olivia Kreft, Daniel Kachmar, and Patrick Hartigan.