AEP 424B5: Secondary offering

Filed with the SEC on · accession 0001193125-26-221862

AEP filed a 424B5 (prospectus (offering)) with the SEC on May 13, 2026. The final terms of an offering of shares or bonds. The stock moved -3.0% by the first close after the filing.

Summary of the filing

American Electric Power Company, Inc. is offering 20,472,442 shares of common stock through forward sale agreements with Bank of America, Goldman Sachs, and Morgan Stanley, with expected net proceeds of approximately $2.56 billion upon full physical settlement.

Key details

Shares offeredshares 20.5M
Public offering price per share$127
Total public offering price$2.6B
Underwriting discount per share$2
Proceeds to company per share (before expenses)$125
Estimated net proceeds to company (before expenses)$2.6B
Last reported sale price on Nasdaq (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
UnderwriterBarclays
UnderwriterCitigroup
UnderwriterJ.P. Morgan
UnderwriterMizuho
UnderwriterMUFG
UnderwriterScotiabank
UnderwriterWells Fargo Securities
Co-managerGuggenheim Securities
Co-managerKeyBanc Capital Markets
Co-managerRBC Capital Markets
Co-managerTD Securities
Co-managerTruist Securities

How AEP stock reacted

Close before

$131.94

May 12, 2026

First close after

-3.02%

$127.95

5 trading days

-2.29%

$128.92

Since filing

-4.10%

$126.53

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Frequently asked questions

What did AEP file with the SEC on May 13, 2026?

AEP filed a 424B5 (Secondary offering). American Electric Power Company, Inc. is offering 20,472,442 shares of common stock through forward sale agreements with Bank of America, Goldman Sachs, and Morgan Stanley, with expected net proceeds of approximately $2.56 billion upon full physical settlement.

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 $131.94 before the filing and $127.95 on May 13, 2026 (-3.02%). Five trading days later: $128.92 (-2.29%).

Other AEP SEC filings

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