What's the difference between, cwen-a and cwen

The difference between Clearway Energy's Class A and Class C common stock lies in their par value, voting power, and the event that triggered their creation.

1. Par Value and Trading Symbol:
   • Both Class A and Class C common stock have a par value of $0.01.
   • Class A shares were the actively traded CWEN public shares prior to the stock split, and they continue to be traded under the ticker symbol CWEN.A.
   • Class C shares were created as part of the stock split and began trading on the NYSE under the ticker symbol CWEN.
2. Voting Power:
   • Class A shares have 100 times the voting power of Class C shares.
   • This disparity in voting power reflects the different roles and interests of the two classes of shares, with Class A shares representing the majority voting power and Class C shares having minimal voting rights.
3. Stock Split and Creation of Class C Shares:
   • The stock split was effective after market close on May 14, 2015, and it was structured to create Class C (public) and Class D (sponsor) shares.
   • Class C shares were issued in a 1-to-1 ratio for the then existing Class A and B shares, but with only 1/100 voting rights compared to the A and B shares.
   • This event was not a taxable event for Clearway holders, and it did not affect the conversion rate under the 2019 Convertible Notes, which was adjusted to 42.9644 shares of Class A common stock per $1,000 principal amount of Notes.
4. Historical Share Data and Sponsorship:
   • Historical Clearway share data pre-split can be found under the CWENf.A ticker symbol.
   • The company's history includes a change in sponsorship, with NRG Energy initially being the sponsor and Global Infrastructure Partners taking over in 2018.
   • Clearway Energy's Class C and Class A common stock are traded on the New York Stock Exchange under the symbols CWEN and CWEN.A, respectively.

In summary, while both Class A and Class C common stock of Clearway Energy have the same par value of $0.01, they differ significantly in their voting power and the circumstances of their creation. The stock split that led to the issuance of Class C shares was a non-taxable event that did not affect the conversion rate under the 2019 Convertible Notes.