Westar Energy Prices 8M Shares Offering at $31.15/Share

Westar Energy, Inc. (NYSE: WR) announced today that it priced an offering of 8,000,000 shares of its common stock at $31.15 per share.  For a period of 30 days following the offering, the underwriters have been granted an option to purchase up to an additional 1,200,000 shares of Westar's common stock solely to cover over-allotments, if any.  Subject to certain conditions, all shares will be sold in connection with the forward sale agreements, as described below. Westar intends to use any net proceeds that it receives upon settlement of any forward sale agreement(s) described below, or upon any issuance and sale of its common stock to the underwriters in the offering, to provide funds to finance its ongoing capital program.  Initially, Westar expects to use the net proceeds to repay short-term indebtedness incurred under its commercial paper program, which was used to provide funds to finance its ongoing capital program and for working capital and general corporate purposes. J.P. Morgan, Wells Fargo Securities, Citigroup and UBS Investment Bank are acting as joint book-running managers for the offering.  Barclays, Deutsche Bank Securities, Goldman, See full press release