Cleco Corp. Announces Pricing of Stock Offering.PINEVILLE, La. -- Cleco Corp. (NYSE NYSE See: New York Stock Exchange :CNL CNL CityNightLine (German Rail) CNL Cancel CNL Clinical Nurse Leader Cnl Colonel CNL Center for Naval Leadership CNL Compensated Neutron Log (oil industry) ) announced today it has priced an offering of 1.75 million shares of common stock at $18.50 per share. Cleco has granted the underwriter an option to purchase up to an additional 250,000 shares of common stock. The $18.50 per share price of the common stock represents a 2.7 percent discount to the closing price of Cleco common stock on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. on Nov. 9, 2004. Goldman, Sachs & Co. is the sole underwriter of the offering. It has a 30-day option to purchase the additional shares at the initial public price less the underwriting discount to the extent Goldman sells more than 1.75 million shares. Proceeds from the sale of the common stock will be used to repay at maturity a portion of Cleco's $100 million of 8.75 percent senior notes due June 1, 2005. This news release does not constitute an offer to sell or a solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy any security, nor will there be any sale of such security in any state in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such state. Any offering of shares of common stock shall be made only by means of a final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. . A copy of the final prospectus can be obtained when available from Goldman, Sachs & Co., at 85 Broad St., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10004-2434. Cleco Corp. is an energy services company headquartered in Pineville, La. It operates a regulated electric utility that serves 264,000 customers across Louisiana. Cleco also operates a wholesale energy business that has approximately 2,100 megawatts of generating capacity, including the Perryville plant, a 718-megawatt plant whose sale to a subsidiary of Entergy is pending. For more information about Cleco, visit www.cleco.com. |
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