Earlier this month, Constellation Energy Corporation completed a US$3.09 billion follow-on equity offering of 11,000,000 common shares at about US$281 each, following an earlier filing to issue 9,000,000 shares. This capital raise comes alongside stronger-than-expected quarterly earnings, new clean energy projects coming online, and growing long-term power contracts with major AI and data center customers like Microsoft and Meta. We’ll now examine how this large equity raise, paired with...