AES corporate units will convert after unsuccessful remarketing

Chicago, Feb. 14 – AES Corp.’s remarketing efforts for the 0% series A cumulative perpetual convertible preferred stock that was issued on March 11, 2021 as part of a $1 billion three-year equity unit offering were unsuccessful, according to a press release.

The corporate units included purchase contracts at the time of sale.

Each corporate unitholder will receive 3.8859 shares of common stock with cash paid for any fractional shares.

The settlement rate was determined using the daily volume weighted average over a 20-day trading period.

AES is an Arlington, Va.-based energy company.

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