IPO - IDACORP INC

Form Type: 424B5

Filing Date: 2025-05-09

Corporate Action: Ipo

Type: New

Accession Number: 000119312525116869

Filing Summary: IDACORP, Inc. is offering 4,504,505 shares of its common stock in a forward sale agreement conducted by multiple financial institutions, including Morgan Stanley and JPMorgan Chase Bank. They will be utilizing separate forward sale agreements for these transactions, which involves borrowing shares and selling them to underwriters. Initial proceeds are not expected from this offering aside from potential future transactions necessitated by certain conditions. The final settlement of these forward sale agreements will occur within 18 months, with options for cash or net share settlement, potentially impacting the net proceeds received. The company intends to use any proceeds for general corporate purposes such as capital expenditures. The public offering price is set at $111.00 per share, totaling approximately $500 million in expected gross proceeds, subject to adjustments based on market conditions and borrowing costs. The shares are listed on the NYSE under the symbol 'IDA.'