Kirkland Advises Constellation on Secondary Public Offering of Common Stock and Concurrent Share Repurchase

Kirkland & Ellis advised Constellation Energy Corporation (Nasdaq: CEG), the largest private-sector power producer in the world and the nation's largest producer of clean and reliable energy, on its underwritten offering of 11 million shares of its common stock by certain of its shareholders for funds affiliated with ECP, CPPIB and the Teacher Retirement System of Texas, resulting in total gross proceeds of approximately $3.1 billion. The offering closed on June 2, 2026. Additionally, the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 1,350,000 shares of Constellation common stock at the public offering price, less underwriting discounts and commissions.

In connection with the offering, Constellation purchased from the underwriters two million shares of common stock that were the subject of the offering for a purchase price of $558 million.

Read Constellation's press release

The Kirkland team included capital markets lawyers Matt Pacey, Anthony Sanderson, Hunter Richey, Samiya Javed, Courtney Wax Lewis and Jonathan Laifman; and tax lawyers Mark Dundon, Dean Shulman, Rachel Malhiet and Liam Underwood.