Con Edison Announces Public Offering of Common Shares
August 08 2017 - 4:34PM
Consolidated Edison, Inc. (“Con Edison”) (NYSE:ED) announced today
it has agreed to issue 4,100,000 of its common shares. These
common shares are being offered by J.P. Morgan Securities LLC under
Con Edison’s effective shelf registration statement filed with the
Securities and Exchange Commission. The common shares are
expected to be issued on August 14, 2017, subject to customary
closing conditions.
Con Edison expects to invest the net proceeds from
the sale of the common shares in its subsidiaries, principally
Consolidated Edison Company of New York, Inc. and Con Edison Clean
Energy Businesses, Inc., for funding of their construction
expenditures and for other general corporate purposes.
Pending these investments, the company may choose to repay
outstanding commercial paper obligations.
This press release shall not constitute an offer to
sell or the solicitation of an offer to buy these securities, nor
shall there be any sale of these securities, in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. The offering of these securities may be made
only by means of the prospectus and related prospectus supplement
relating to the offering. Investors will be able to obtain a
copy of such documents from J.P. Morgan, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone:
(888) 803-9204, Email: prospectus-eq_fi@jpmchase.com.
This press release contains forward-looking
statements of future expectations. Actual results might differ
materially from those projected because of factors such as those
identified in reports the company has filed with the Securities and
Exchange Commission.
Consolidated Edison, Inc. is one of the nation's
largest investor-owned energy-delivery companies. The company
provides a wide range of energy-related products and services to
its customers through the following subsidiaries: Consolidated
Edison Company of New York, Inc., a regulated utility providing
electric, gas and steam service in New York City and Westchester
County, New York; Orange and Rockland Utilities, Inc., a regulated
utility serving customers in a 1,300-square-mile-area in
southeastern New York State and northern New Jersey; Con Edison
Clean Energy Businesses, Inc., which through its subsidiaries
develops, owns and operates renewable and energy infrastructure
projects and provides energy-related products and services to
wholesale and retail customers; and Con Edison Transmission, Inc.,
which through its subsidiaries invests in electric and gas
transmission projects.
Contact:
Robert McGee
212-460-4111
Consolidated Edison (NYSE:ED)
Historical Stock Chart
From Apr 2024 to May 2024
Consolidated Edison (NYSE:ED)
Historical Stock Chart
From May 2023 to May 2024