Every 424B that Pinnacle West Capital Corporation (PNW) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow PNW and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PNW filings page.
Pinnacle West Capital Corporation is establishing an equity offering program to sell shares of its common stock, with an aggregate gross sales price of up to $500,000,000. Sales may be made from time to time through managers in an “at the market offering” or via forward sale agreements with designated financial institutions.
Managers earn commissions of up to 1% of the aggregate gross sales price, and affiliated Forward Sellers receive up to 1% via reduced forward prices. Net proceeds to Pinnacle West and from settlement of any forward sale agreements are intended for investment in APS to fund capital expenditures, repay all or a portion of $104 million of Pinnacle West and $540 million of APS commercial paper outstanding as of June 30, 2026, and for general corporate purposes. The company may physically, cash or net share settle forward sale agreements, which can affect dilution and cash obligations. Pinnacle West’s common stock trades on the NYSE under the symbol PNW, with a last reported sale price of $100.81 per share on August 3, 2026.
Pinnacle West Capital Corporation is offering shares of its common stock under an "at the market" equity distribution program with an aggregate gross sales price of up to $900,000,000. Under the equity distribution agreement (amended June 5, 2026), approximately $630,000,000 has been sold and up to $270,000,000 remains available to be sold under this prospectus supplement.
The company may sell shares through the Managers or via forward sale agreements, including borrowed-share hedges executed by Forward Sellers. Sales may be ordinary brokers’ transactions on the NYSE, market‑maker trades, privately negotiated transactions, block trades, or sales to Managers as principals. Net proceeds are intended for investment in APS capital expenditures, repayment of commercial paper, or general corporate purposes. The prospectus notes potential dilution, forward‑sale settlement mechanics (physical, cash or net share), and conflicts of interest if Managers or affiliates receive a material portion of proceeds.
Pinnacle West Capital Corporation is offering $500,000,000 of 4.650% Senior Notes due June 1, 2029. Interest accrues from June 5, 2026 and is payable semi‑annually on June 1 and December 1, beginning December 1, 2026. The notes are unsecured senior obligations, will rank equally with other unsecured senior debt and are structurally subordinated to subsidiary obligations.
The initial public offering price is 99.915% (underwriting discount 0.350%) with estimated net proceeds of approximately $497.8 million. Net proceeds are intended to redeem or repay the $350,000,000 Floating Rate Senior Notes due June 10, 2026, repay commercial paper and for general corporate purposes. The issuer may redeem the notes prior to maturity (make‑whole or par call rules apply) and may redeem in whole if a Tax Credit Event occurs at 101% of principal.
Pinnacle West Capital Corporation is offering a series of unsecured senior notes under its shelf registration. The prospectus supplement sets out terms including semi-annual interest, $2,000 minimum denominations, optional make-whole redemption prior to the par call date and a Tax Credit Event redemption at 101%. Proceeds are intended to redeem or repay its $350,000,000 Floating Rate Senior Notes due June 10, 2026, repay commercial paper and for general corporate purposes. The notes will rank equally with Pinnacle West’s other unsecured senior indebtedness and will be structurally subordinated to subsidiary obligations, principally those of APS.