Nextera Energy Falls 7% After Company Announces Share Offering

Shares of Nextera Energy Partners LP NEP were trading lower by more than 7 percent on Tuesday after the company announced the pricing of a share offering.

Nextera Energy plans on offering 9.7 million common units representing limited partner interests in NextEra Energy Partners at a price of $26.00 per unit. The company also granted its underwriters the right to purchase an additional 1.455 million common units.

Shares of Nextera Energy closed for trading at $28.13 on Monday.

Nextera Energy noted in a regulatory filing that it plans on using the proceeds to fund, in part, its acquisition of the Seiling I & II Wind Energy Centers.