Subject to
Completion
Preliminary prospectus supplement dated November 14, 2019
PROSPECTUS SUPPLEMENT
(To prospectus dated
December 15, 2017)
$195,600,000
Alliant Energy Corporation
Common Stock
The forward
counterparty referred to below is offering $195,600,000 of shares of our common stock in this offering. We expect to enter into a forward sale agreement with Barclays Bank PLC, an affiliate of Barclays Capital Inc., whom we refer to as the forward
counterparty, in respect of $195,600,000 of shares of our common stock. In connection with the forward sale agreement between us and the forward counterparty, the forward counterparty or its affiliates are, at our request, borrowing from third
parties and selling to the underwriter an aggregate of $195,600,000 of shares of our common stock that will be delivered in this offering. If in its good faith and commercially reasonable judgment, the forward counterparty is unable to borrow and
deliver for sale on the anticipated closing date the number of shares of our common stock underlying the forward sale agreement, or the forward counterparty would be unable to borrow, at a stock loan rate not greater than a specified rate, and
deliver for sale on the anticipated closing date such number of shares of our common stock, or if certain other conditions to the forward counterpartys obligations have not been satisfied, then we will issue and sell directly to the
underwriter a number of shares of our common stock equal to the number of shares that the forward counterparty does not borrow and deliver.
We will not initially receive any proceeds from the sale of $195,600,000 of shares of our common stock sold by the forward counterparty to the
underwriter, except in certain circumstances described in this prospectus supplement, including the last sentence of the previous paragraph. We expect to settle the forward sale agreement and receive proceeds, subject to certain adjustments, from
the sale of those shares of common stock assuming one or more future physical settlements of the forward sale agreement no later than December 31, 2020. Although we expect to settle the forward sale agreement entirely by the full physical
delivery of shares of our common stock in exchange for cash proceeds, we may elect cash settlement or net share settlement for all or a portion of our obligations under the forward sale agreement. If we elect to cash settle or net share settle the
forward sale agreement, we may not receive any proceeds from the issuance of shares, and we will instead receive or pay cash (in the case of cash settlement) or receive or deliver shares of our common stock (in the case of net share settlement). See
Underwriting (Conflict of Interest) for a description of the forward sale agreement.
Our common stock is listed on the Nasdaq
Global Select Market, or Nasdaq, under the symbol LNT. The last reported sale price of our common stock on Nasdaq on November 13, 2019 was $52.63 per share.
Investing in our common stock involves risk. See Risk Factors on page S-5 of this prospectus
supplement, page 4 of the accompanying prospectus and in the documents incorporated by reference into this prospectus supplement and the accompanying prospectus for a discussion of certain risks that prospective investors should consider before
investing in our common stock.
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Per Share
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Total
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Public Offering Price
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$
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$
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Underwriting Discount
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$
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$
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Proceeds to Us (before expenses)(1)
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$
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$
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(1)
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We expect to receive estimated net proceeds from the sale of shares of our common stock, before expenses, of
$ ($ if the underwriters option to purchase
additional shares is exercised in full, as described in detail below). For the purpose of calculating the estimated net proceeds to us, we have assumed that the forward sale agreement is physically settled on the effective date of the forward sale
agreement based upon the initial forward sale price of $ (which is the price at which the underwriter has agreed to buy the shares of common stock offered
hereby). The forward sale price is subject to adjustment pursuant to the terms of the forward sale agreement, and the actual proceeds, if any, will be calculated as described in this prospectus supplement.
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The underwriter may offer shares of our common stock from time to time for sale in one or more transactions on Nasdaq, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at
negotiated prices. See Underwriting (Conflict of Interest).
We have granted the underwriter an option to purchase up to an
additional $29,340,000 of shares of our common stock, exercisable within 30 days from the date of this prospectus supplement. If such option is exercised, we may, in our sole discretion, enter into an additional forward sale agreement with the
forward counterparty in respect of the number of shares of our common stock that are subject to the exercise of such option, and we currently anticipate that, if such option is exercised, we will do so. Unless the context requires otherwise, the
term forward sale agreement as used in this prospectus supplement includes any additional forward sale agreement that we elect to enter into in connection with the exercise by the underwriter of its option to purchase additional shares.
In the event that we enter into an additional forward sale agreement, if in its good faith and commercially reasonable judgment, the forward counterparty is unable to borrow and deliver for sale on the anticipated closing date for the exercise of
such option the number of shares of our common stock underlying the applicable forward sale agreement, or the forward counterparty would be unable to borrow, at a stock loan rate not greater than a specified rate, and deliver for sale on the
anticipated closing date such number of shares of our common stock, or if certain other conditions to the forward counterpartys obligations have not been satisfied, then we will issue and sell directly to the underwriter a number of shares of
our common stock equal to the number of shares that the forward counterparty does not borrow and deliver.
Neither the Securities and
Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is accurate or complete. Any representation to the contrary is a criminal offense.
The underwriter expects to deliver the shares on or about November , 2019.
Barclays
The date of
this prospectus supplement is November , 2019.