Energisa in R$2.5 Billion Follow-On Equity Offering

February 1, 2024

Cleary Gottlieb represented Energisa S.A. (Energisa) in its R$2.5 billion follow-on equity offering.

The offering raised approximately R$2.5 billion in gross proceeds and consisted of a primary offering of approximately 98 million common shares and 152 million preferred shares, delivered in the form of units composed of one common share and four preferred shares. The offering was priced at R$49.80 per unit on January 29, 2024, and closed on February 1, 2024. The shares were offered in Brazil to professional investors and in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act.

The placement agents of the offering were Itau BBA, Bank of America, Bradesco BBI, BTG Pactual, Citigroup, J.P. Morgan, Santander, and Scotiabank.

Energisa is listed on the Level 2 segment of the São Paulo Stock Exchange (B3) and is primarily engaged in electric energy distribution with integrated operations that include the generation, transmission, and distribution of electric energy, as well as natural gas distribution, sale of electricity, and providing services relating to operation and maintenance of electricity assets.