PR Newswire·Feb 17, 2026, 10:21 PM ET

Portland General Electric Company Announces Pricing of a Public Offering of 9,467,455 Shares of Common Stock

Portland General Electric Company priced an underwritten public offering of 9,467,455 shares of common stock at $50.70 per share on February 17, 2026.
The offering is expected to close on February 19, 2026, subject to conditions.
Wells Fargo Securities & BofA Securities serve as lead book-runners, with Barclays & J.P. Morgan as active book-runners, BMO Capital Markets & Mizuho as book-running managers, & BTIG & Siebert Williams Shank as co-managers.
The Company entered into forward sale agreements with Wells Fargo Bank, N.A. & Bank of America, N.A. to sell 9,467,455 shares.
Underwriters have a 30-day option to purchase up to 1,380,670 additional shares, potentially increasing the total offering to 10,848,125 shares.
Forward purchasers are expected to borrow & sell shares to underwriters, though they are not required to do so if borrowing costs exceed a threshold or shares cannot be borrowed.
The Company intends to physically settle the forward sale agreements on dates no later than 24 months from the preliminary prospectus supplement, receiving proceeds equal to the public price less discounts.
The Company will not receive initial proceeds from the forward purchasers' sale but expects to use future net proceeds for general corporate purposes, renewable energy investment, & repayment of indebtedness.
All shares are offered under an effective SEC shelf registration statement, with a final prospectus supplement to be filed & available on the SEC's website.