American Electric Power (AEP) announced they are pricing an offering of about 20.5 million shares of common stock at $127 per share. The deal is structured as a forward sale agreement with banks including BofA, Goldman Sachs, and Morgan Stanley. The underwriters also have a 30-day option to buy an additional 3 million shares. AEP expects to settle the agreement by May 2028. They plan to use the proceeds for general corporate purposes, which could include paying down debt, making acquisitions, or funding their utility subsidiaries.