Edison International Launches Public Offering of Common Stock
July 29 2019 - 4:32PM
Business Wire
Edison International (NYSE: EIX) announced today the
commencement of an underwritten public offering of 25,000,000
shares of its common stock. In conjunction with this offering,
Edison International intends to grant the underwriters involved in
the offering a 30-day option to purchase up to an additional
3,750,000 shares of its common stock.
The net proceeds from the offering will be used for general
corporate purposes, including contributions to Southern California
Edison (SCE). Contributions to SCE will be used to repay commercial
paper borrowings and for general corporate purposes, including a
$1.2 billion contribution to the wildfire insurance fund to be
established pursuant to Assembly Bill 1054, which was recently
enacted by the California Legislature and signed into law by Gov.
Newsom.
J.P. Morgan, Barclays, Morgan Stanley, Citigroup and Wells Fargo
are acting as joint book-running managers of the offering.
This offering is being made under an effective shelf
registration statement filed with the U.S. Securities and Exchange
Commission, and only by means of a prospectus supplement for this
offering and a related base prospectus. Copies of the preliminary
prospectus supplement and accompanying prospectus related to the
offering may be obtained by visiting EDGAR on the Securities and
Exchange Commission’s website at www.sec.gov or by contacting:
J.P. Morgan Securities LLC
Barclays Capital Inc.
Morgan Stanley & Co. LLC
c/o Broadridge Financial Solutions
1155 Long Island Ave.
Edgewood, NY 11717
c/o Broadridge Financial Solutions
1155 Long Island Ave.
Edgewood, NY 11717
Attention: Prospectus Department
170 Varick St., 2nd Floor
New York, NY 10014
Telephone: (866) 803 -9204
Telephone: (888) 603-5847
Email:
barclaysprospectus@broadridge.com
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any jurisdiction
in which such an offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of
any such jurisdiction.
About Edison International
Edison International (NYSE:EIX), through its subsidiaries, is a
distributor and generator of electric power, as well as a provider
of energy services and technologies, including renewable energy.
Headquartered in Rosemead, Calif., Edison International is the
parent company of Southern California Edison, one of the nation’s
largest electric utilities.
Forward-Looking Statements
This press release contains forward-looking statements regarding
our planned offer and sale of common stock and the use of the net
proceeds from any such sale. Edison International cannot be sure
that we will complete the offering or, if we do, on what terms we
will complete it. Forward-looking statements are based on current
beliefs and expectations and are subject to inherent risks and
uncertainties, including those discussed under the caption “Risk
Factors” in the base prospectus and prospectus supplement related
to the offering. In addition, Edison International’s management
retains discretion with respect to the allocation of the net
proceeds of this offering. The forward-looking statements speak
only as of the date of this release, and Edison International is
under no obligation to, and expressly disclaims any such obligation
to, update or alter its forward-looking statements, whether as a
result of new information, future events, or otherwise, except as
may otherwise be required by law.
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Media Contact: Gloria Quinn, (626) 302-2255 Investor Relations:
Sam Ramraj, (626) 302-2540
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