UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 1.01 | Entry into a Material Definitive Agreement. |
On September 6, 2023, Black Hills Corporation (the “Company” or “we”) entered into an Underwriting Agreement by and between the Company and the representatives of the several underwriters named in Schedule A thereto (the “Underwriting Agreement”), pursuant to which the Company has agreed to issue and sell and the underwriters have severally agreed to purchase an aggregate principal amount of $450 million of its 6.150% Notes due 2034 (the “Notes”). The aggregate gross consideration received by the Company (taking into account original issue discount and underwriting discounts) for the sale of the Notes is approximately $443.6 million. The issuance and settlement of the Notes are scheduled to occur on September 15, 2023, subject to customary closing conditions.
The Underwriting Agreement contains representations and warranties, covenants and other terms that are customary for such kind of agreement. In addition, the Company has agreed to indemnify the underwriters against certain liabilities on customary terms. Some of the underwriters and their affiliates have engaged in, and may in the future engage in, investment banking and other commercial dealings, including but not limited to commercial lending services, with the Company, its direct or indirect subsidiaries or its affiliates. They have received, or may in the future receive, customary fees and commissions for these transactions.
The Notes were offered pursuant to the Company’s Registration Statement on Form S-3 (Registration No. 333-272739) (the “Registration Statement”), and the related Prospectus dated June 16, 2023 and Prospectus Supplement dated September 6, 2023. A copy of the Underwriting Agreement is attached hereto as Exhibit 1.1 and is expressly incorporated by reference herein and into the Registration Statement. The foregoing descriptions are qualified in their entirety by reference to the actual terms thereof.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits |
| The following exhibits are furnished or filed herewith: |
| Number | Exhibit |
| 1.1 | Underwriting Agreement dated as of September 6, 2023 between Black Hills Corporation and the underwriters named therein. |
| 104.1 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BLACK HILLS CORPORATION | ||
| By: | /s/ Kimberly F. Nooney | |
| Kimberly F. Nooney | ||
| Senior Vice President and Chief Financial Officer | ||
Date: September 11, 2023