AEP 424B5: Secondary offering

Filed with the SEC on May 12, 2026 · accession 0001193125-26-219470

AEP filed a 424B5 (prospectus (offering)) with the SEC on May 12, 2026. American Electric Power Company, Inc. is offering $2.6 billion of common stock through forward sale agreements with Bank of America, Goldman Sachs, and Morgan Stanley, with an underwriter option for an additional $390 million. The stock moved +0.9% by the first close after the filing.

Summary of the filing

American Electric Power Company, Inc. is offering $2.6 billion of common stock through forward sale agreements with Bank of America, Goldman Sachs, and Morgan Stanley, with an underwriter option for an additional $390 million. The company expects to receive net proceeds upon full physical settlement of the forward agreements by May 31, 2028.

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Key details

Total offering amount of common stock$2.6B

Underwriters' option to purchase additional shares$390.0M

Last reported sale price per share on May 11, 2026$131

IssuerAmerican Electric Power Company, Inc.

Forward purchaser and underwriterBank of America, N.A.

Forward purchaser and underwriterGoldman Sachs & Co. LLC

Forward purchaser and underwriterMorgan Stanley & Co. LLC

How AEP stock reacted

Close before

$130.70

May 11, 2026

First close after

+0.95%

$131.94

5 trading days

-2.31%

$127.68

Since filing

-3.19%

$126.53

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Frequently asked questions

What did AEP file with the SEC on May 12, 2026?

AEP filed a 424B5 (Secondary offering). American Electric Power Company, Inc. is offering $2.6 billion of common stock through forward sale agreements with Bank of America, Goldman Sachs, and Morgan Stanley, with an underwriter option for an additional $390 million. The company expects to receive net proceeds upon full physical settlement of the forward agreements by May 31, 2028.

What does a secondary offering mean for AEP stock?

New shares dilute existing holders and are often sold at a discount to the market price.

How do I read a 424B5?

The final terms of an offering of shares or bonds. Look at price, number of shares and the discount to the market price. Large offerings dilute existing shareholders.

Why are SEC filings important?

Public companies must tell the SEC about anything that can change their value — results, leadership changes, big deals, new shares, bankruptcy. Filings are the official source, often before the news. A 424B5 (prospectus (offering)): The final terms of an offering of shares or bonds.

How did AEP stock react to this filing?

AEP closed at $130.70 before the filing and $131.94 on May 12, 2026 (+0.95%). Five trading days later: $127.68 (-2.31%).

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