The Firm represented American Electric Power Company, Inc. (“AEP”) in an SEC-registered offering of 22,549,020 shares of common stock (including 2,941,176 shares pursuant to the exercise of the underwriters’ option to purchase additional shares) and the execution of forward sale agreements relating to an equal number of shares. Under the forward sale agreements, Citibank, N.A. and Barclays Bank PLC, as forward counterparties, borrowed 22,549,020 shares of AEP’s common stock from third parties and sold those shares to the underwriters, led by Citigroup, Barclays, BofA Securities and Wells Fargo Securities.
American Electric Power (Nasdaq: AEP), based in Columbus, Ohio, operates and maintains the nation's largest electricity transmission system with 40,000 line miles, along with more than 225,000 miles of distribution lines to deliver power to nearly 5.6 million customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 29,000 megawatts of diverse generating capacity.
The Simpson Thacher team included Brian Rosenzweig, Margaret Selbe and Michael Hiestand (Capital Markets); Jon Lindabury, Nathan Utterback and Abby Kieker (Equity Derivatives); Drew Purcell, Jon Cantor and Kris Liu (Tax); and Jeanne Annarumma (Executive Compensation and Employee Benefits).