Altus Power, Inc (AMPS) Prices 7M Share Secondary Offering at $11.50

Altus Power, Inc. (NYSE: AMPS) announced the pricing of a secondary underwritten public offering of its Class A common stock by a selling stockholder affiliated with Blackstone. The offering consists of 7,000,000 shares being sold by Blackstone at a public offering price of $11.50 per share, which represents $80.5 million of Class A common stock, before underwriting discounts and commissions. In connection with the offering, Blackstone granted the underwriters a 30-day option to purchase up to 1,050,000 additional shares of Class A common stock on the same terms and conditions at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about October 3, 2022, subject to customary closing conditions. All of the shares in the offering are to be sold by Blackstone. Altus Power will not receive any proceeds from the sale of shares of its Class A common stock by Blackstone.

J.P. Morgan, Citigroup and Evercore ISI are acting as joint book-running managers for the offering.

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