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Constellation Energy (NASDAQ: CEG) notes Calpine exchange offers expiration

Filing Impact
(High)
Filing Sentiment
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Form Type
8-K

Rhea-AI Filing Summary

Constellation Energy Corporation and its subsidiary Constellation Energy Generation, LLC report that on January 13, 2026, Constellation Energy Generation issued a press release announcing the expiration of its previously announced exchange offers and consent solicitations for outstanding notes of Calpine Corporation. The press release is filed as Exhibit 99.1 and incorporated by reference. The filing also includes standard forward-looking statements language, noting that actual results related to the Calpine acquisition, including integration, anticipated synergies, and capital structure, may differ materially from current expectations due to various risks and uncertainties.

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Pennsylvania1310 Point StreetBaltimoreMaryland21231-3380(833)883-0162Pennsylvania200 Energy WayKennett SquarePennsylvania19348-2473(833)883-016200018682750001168165False00018682752026-01-132026-01-130001868275ceg:ConstellationEnergyGenerationLLCMember2026-01-132026-01-13

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
January 13, 2026
Date of Report (Date of earliest event reported)
Commission
File Number
Name of Registrant; State or Other Jurisdiction of Incorporation; Address of Principal Executive Offices; and Telephone NumberIRS Employer Identification Number
001-41137CONSTELLATION ENERGY CORPORATION87-1210716
(a Pennsylvania corporation)
1310 Point Street
Baltimore, Maryland 21231-3380
(833) 883-0162
333-85496CONSTELLATION ENERGY GENERATION, LLC23-3064219
(a Pennsylvania limited liability company)
200 Energy Way
Kennett Square, Pennsylvania 19348-2473
(833) 883-0162
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
CONSTELLATION ENERGY CORPORATION:
Common Stock, without par value
CEG
The Nasdaq Stock Market LLC
Indicate by check mark whether any of the registrants are emerging growth companies as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company
If an emerging growth company, indicate by check mark if any of the registrants have elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐




Section 8 – Other Events
Item 8.01. Other Events

On January 13, 2026, Constellation Energy Generation, LLC issued a press release announcing the expiration of its previously announced exchange offers and consent solicitations for outstanding notes of Calpine Corporation. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

Section 9 - Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits

(d) Exhibits.
Exhibit No.
Description
99.1
Press Release dated January 13, 2026
101
Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
104
The cover page from the Current Report on Form 8-K, formatted as Inline XBRL.

* * * * *

This combined Current Report on Form 8-K is being furnished separately by Constellation Energy Corporation and Constellation Energy Generation, LLC, (collectively, the “Registrants”). Information contained herein relating to one of the Registrants has been furnished by such Registrant on its own behalf. Neither Registrant makes any representation as to information relating to the other Registrant.

This Current Report on Form 8-K contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. Words such as “could,” “may,” “expects,” “anticipates,” “will,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “predicts,” and variations on such words, and similar expressions that reflect the Registrants’ current views with respect to future events and operational, economic, and financial performance, are intended to identify such forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the exchange offers, the consent solicitations, the expected timing and likelihood of completion of the exchange offers and consent solicitations, the pro forma combined company and its operations, strategies, plans, synergies, opportunities and anticipated future performance and capital structure. Information adjusted for the acquisition of Calpine Corporation should not be considered a forecast of future results. Although the Registrants believe these forward-looking statements are reasonable, statements made regarding future results are not guarantees of future performance and are subject to numerous assumptions, uncertainties and risks that are difficult to predict. Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks and uncertainties that could cause actual results to differ materially from those projected.

Actual outcomes and results may differ materially from the results stated or implied in the forward-looking statements included in this Current Report on Form 8-K due to a number of factors, including, but not limited to the risk that problems may arise in successfully integrating the businesses of the companies, which may result in the combined company not operating as effectively and efficiently as expected, and the risk that the combined company may be unable to achieve synergies or other anticipated benefits of the acquisition of Calpine Corporation or it may take longer than expected to achieve those synergies or benefits. Other unpredictable or unknown factors not discussed in this Current Report on Form 8-K could also have material adverse effects on forward-looking statements.

The factors that could cause actual results to differ materially from the forward-looking statements made by the Registrants include those factors discussed herein, as well as the items discussed in (1) the Registrants’ 2024 Annual Report on Form 10-K in (a) Part I, ITEM 1A. Risk Factors, (b) Part II, ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations, and (c) Part II, ITEM 8. Financial Statements and Supplementary Data: Note 18, Commitments and Contingencies; (2) the Registrants’ Third Quarter 2025 Quarterly Report on Form 10-Q in (a) Part II, ITEM 1A. Risk Factors, (b) Part I, ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations, and (c) Part I, ITEM 1. Financial Statements: Note 14, Commitments and Contingencies; and (3) other factors discussed in filings with the Securities and Exchange Commission by the Registrants.

Investors are cautioned not to place undue reliance on these forward-looking statements, whether written or oral, which apply only as of the date of this Current Report on Form 8-K. Neither Registrant undertakes any obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances after the date of this Current Report on Form 8-K.



SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, each Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CONSTELLATION ENERGY CORPORATION
/s/ Shane P. Smith
Shane P. Smith
Executive Vice President and Chief Financial Officer
Constellation Energy Corporation
CONSTELLATION ENERGY GENERATION, LLC
/s/ Shane P. Smith
Shane P. Smith
Executive Vice President and Chief Financial Officer
Constellation Energy Generation, LLC
January 13, 2026



EXHIBIT INDEX
Exhibit No.
Description
99.1
Press Release dated January 13, 2026
101
Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
104
The cover page from the Current Report on Form 8-K, formatted as Inline XBRL.

FAQ

What did Constellation Energy (CEG) report in this 8-K filing?

The filing states that Constellation Energy Generation, LLC issued a press release announcing the expiration of its previously announced exchange offers and consent solicitations for outstanding notes of Calpine Corporation, with the press release attached as Exhibit 99.1.

Which Constellation entities are covered in this 8-K related to Calpine?

The report is a combined filing by Constellation Energy Corporation and Constellation Energy Generation, LLC, with each registrant providing information on its own behalf and not making representations about information relating to the other.

What Calpine-related transactions are mentioned in the Constellation (CEG) 8-K?

The document refers to previously announced exchange offers and consent solicitations for outstanding notes of Calpine Corporation, and notes that a press release has been issued announcing the expiration of these offers and solicitations.

Does the Constellation 8-K discuss risks around the Calpine acquisition?

Yes. The filing includes forward-looking statements language highlighting risks such as potential difficulties in integrating the companies, the possibility that the combined company may not operate as effectively as expected, and that anticipated synergies or other benefits from the acquisition of Calpine Corporation may be delayed or not achieved.

Where can investors find more risk information related to Constellation and Calpine?

The report points investors to the Registrants’ 2024 Annual Report on Form 10-K and Third Quarter 2025 Form 10-Q, including sections on Risk Factors, Management’s Discussion and Analysis, and notes on Commitments and Contingencies, for additional details.

What exhibits are included with this Constellation (CEG) 8-K?

The exhibits listed are 99.1 (Press Release dated January 13, 2026), 101 (Cover Page Interactive Data File with XBRL tags embedded in the Inline XBRL document), and 104 (the cover page formatted as Inline XBRL).

CONSTELLATION ENERGY CORP

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