# PINNACLE WEST CAPITAL CORP (PNW) — bankruptcy [announced]
Source: SEC API (secapi.ai) · situation sit_56688d6d93f65857ebbd · retrieved 2026-08-11T16:12:02.682Z

## Overview
Pinnacle West Capital Corporation is a holding company that owns Arizona Public Service Company (APS), an electric utility providing power generation, transmission, and distribution services in Arizona.

Pinnacle West Capital Corporation entered into an Equity Distribution Agreement on August 4, 2026, with eight managers (BMO Capital Markets Corp., BTIG, LLC, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, Scotia Capital (USA) Inc., TD Securities (USA) LLC, and Truist Securities, Inc.) to offer and sell shares of common stock with an aggregate gross sales price of up to $500,000,000. The agreement permits sales through ordinary brokers' transactions on the New York Stock Exchange, at-the-market offerings, or other methods agreed upon by the parties. The Company may also enter into forward sale agreements with forward purchasers, whereby forward sellers will borrow and sell shares on behalf of the Company. Each manager will receive a commission of up to 1% of the gross sales price per share sold. The net proceeds will be used for investment in Arizona Public Service Company (APS) to fund capital expenditures, repay commercial paper, and for general corporate purposes.

## Terms
- Counterparty: BMO Capital Markets Corp., BTIG, LLC, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, Scotia Capital (USA) Inc., TD Securities (USA) LLC, Truist Securities, Inc. · Deal value: $500.0M · Consideration: cash

## Key dates
- Announced 2026-08-04

## Timeline
- 2026-08-04 · 8-K (0001104659-26-090108): 8-K - PINNACLE WEST CAPITAL CORP — *Pinnacle West Capital Corporation is a holding company that owns Arizona Public Service Company (APS), an electric utility providing power generation, transmission, and distribution services in Arizona.* Pinnacle West Capital Corporation entered into an Equity Distribution Agreement on August 4, 2026, with eight managers (BMO Capital Markets Corp., BTIG, LLC, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, Scotia Capital (USA) Inc., TD Securities (USA) LLC, and Truist Securities, Inc.) to offer and sell shares of common stock with an aggregate gross sales price of up to $500,000,000. The agreement permits sales through ordinary brokers' transactions on the New York Stock Exchange, at-the-market offerings, or other methods agreed upon by the parties. The Company may also enter into forward sale agreements with forward purchasers, whereby forward sellers will borrow and sell shares on behalf of the Company. Each manager will receive a commission of up to 1% of the gross sales price per share sold. The net proceeds will be used for investment in Arizona Public Service Company (APS) to fund capital expenditures, repay commercial paper, and for general corporate purposes.
  https://www.sec.gov/Archives/edgar/data/764622/0001104659-26-090108.txt

## Citations
- 0001104659-26-090108 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000110465926090108