Constellation Energy Announces Pricing of 11 Million Share Secondary Offering
On June 1, 2026, Constellation Energy Corporation (Nasdaq: CEG) announced the pricing of an underwritten secondary public offering of 11,000,000 shares of its common stock by certain selling shareholders at a price of $281.00 per share. Constellation itself is not selling any shares and will not receive any proceeds from the offering.
As part of the transaction, Constellation has agreed to repurchase 2,000,000 shares of its common stock from the underwriters at the same price paid to the selling shareholders, utilizing its existing share repurchase program. The underwriters (Morgan Stanley and J.P. Morgan) also hold a 30-day option to purchase up to an additional 1,350,000 shares from the selling shareholders.
Following the announcement, CEG shares fell 7.7% in a single day, closing at $265.70. This represents a 34.0% decline from its 52-week high, as public markets digest secondary supply and broader utility-sector consolidation. Despite the short-term price pressure, Constellation remains a dominant force in the nuclear sector, reporting $11.12 billion in revenue and $1.60 billion in net income for the quarter ending March 31, 2026.