South Jersey Industries : SJI Announces Proposed Public Offering of Common Stock
May 10 2016 - 4:02PM
FOR IMMEDIATE RELEASE
Telephone: 609-561-9000
Investor Relations/Media Contact: Marissa Travaline x4227 e-mail:
mtravaline@sjindustries.com
May 10, 2016
SJI Announces
Proposed Public Offering of Common Stock
Folsom, NJ - South Jersey Industries, Inc. (NYSE:
SJI) today announced that it plans to conduct a registered public
offering of up to 6,500,000 shares of its common stock, subject to
market conditions and other factors. In conjunction with this
offering, SJI intends to grant the underwriters a 30-day option to
purchase up to an additional 975,000 shares of its common
stock.
SJI intends to use the net proceeds from this
offering for capital expenditures primarily for regulated
businesses, including infrastructure investments at its utility
business.
J.P. Morgan, Morgan Stanley and Guggenheim
Securities are acting as joint book-running managers for the
offering. Janney Montgomery Scott, Sidoti & Company, LLC,
U.S. Capital Advisors and The Williams Capital Group, L.P. are
acting as co-managers for the offering.
This offering is being made under an effective
shelf registration statement filed with the U.S. Securities and
Exchange Commission, and this offering is being made only by means
of a prospectus supplement for this offering and a related base
prospectus. Copies of the prospectus supplement and related
base prospectus may be obtained by contacting:
J.P. Morgan
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
prospectus-eq_fi@jpmchase.com,
or by telephone at (866) 803-9204;
Morgan Stanley & Co. LLC, Attn: Prospectus
Department,
180 Varick Street, 2nd Floor
New York, NY 10014; or
Guggenheim Securities, Attn: Equity Syndicate
Department,
330 Madison Avenue, 8th Floor
New York, NY 10017
GSEquityProspectusDelivery@guggenheimpartners.com,
or by telephone at (212) 518-9658.
This news release does not constitute an offer to
sell or a solicitation of an offer to buy the securities described
herein, nor shall there be any sale of these securities, in any
state or jurisdiction in which it is unlawful to make such an
offer, solicitation or sale.
FORWARD LOOKING STATEMENT
This news release contains forward-looking
statements within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. All statements other than statements
of historical fact, including statements regarding plans to offer
common stock and the intended use of the proceeds of such an
offering, are forward-looking. SJI uses words such as "anticipate",
"believe", "expect", "estimate", "forecast", "goal", "intend",
"objective", "plan", "project", "seek", "strategy" and similar
expressions to identify forward-looking statements. These
forward-looking statements are based on the beliefs and assumptions
of SJI's management at the time that these statements were made and
are inherently uncertain. Forward-looking statements are
subject to risks and uncertainties that could cause actual results
to differ materially from those expressed in the statements. These
risks and uncertainties include, but are not limited to, the
prevailing conditions in the public capital markets, interest rates
and economic, political and market factors affecting trading
volumes, securities prices or demand for SJI's securities. These
risks and uncertainties, as well as other risks and uncertainties
that could cause SJI's actual results to differ materially from
those expressed in the forward-looking statements, are described in
greater detail under "Risk Factors" in the prospectus supplement
and related base prospectus for this offering, in SJI's Quarterly
Report on Form 10-Q for the three months ending March 31, 2016, in
SJI's Annual Report on Form 10-K for the year ended December 31,
2015 and in other filings made by SJI with the U.S. Securities and
Exchange Commission. Although SJI believes it has been prudent in
its plans and assumptions, no assurance can be given that any goal
or plan set forth in any forward-looking statement can or will be
achieved, and readers are cautioned not to place undue reliance on
such statements, which speak only as of the date they are
made. Although SJI undertakes no obligation to revise or
update any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by law,
you are advised to consult any additional disclosures SJI makes in
its Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and
Current Reports on Form 8-K filed with the U.S. Securities and
Exchange Commission.
ABOUT SOUTH JERSEY
INDUSTRIES
South Jersey Industries (NYSE: SJI), an energy
services holding company based in Folsom, NJ, operates its business
through two primary subsidiaries. South Jersey Gas delivers clean,
efficient natural gas and promotes energy efficiency to
approximately 375,000 customers in southern New Jersey. SJI's
non-regulated businesses, under South Jersey Energy Solutions,
promote efficiency, clean technology and renewable energy by
developing, owning and operating on-site energy production
facilities; acquiring and marketing natural gas and electricity for
retail customers; providing wholesale commodity marketing and fuel
management services; and offering HVAC and other energy-efficiency
related services.
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: South Jersey Industries via Globenewswire
HUG#2011503
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