NorthWestern Corporation completes $325 million public offering of Common Stock, including forward sale

Client(s) NorthWestern Corporation

Jones Day represented NorthWestern Corporation in connection with the underwritten public offering of 6,074,767 shares of NorthWestern’s Common Stock at a public offering price of $53.50 per share. Of the 6,074,767 shares of Common Stock, NorthWestern directly sold 1,401,869 shares to the underwriters in a primary offering, and BofA Securities, Inc., as the forward seller, borrowed and sold 4,672,898 shares to the underwriters in connection with a forward sale agreement.

NorthWestern also granted the underwriters a 30-day option to purchase up to an additional 911,215 shares of its Common Stock in the public offering on the same terms and conditions. The underwriters exercised their option in full in connection with the initial closing and NorthWestern entered into an additional forward sale agreement relating to the additional 911,215 shares of its Common Stock.