NEW YORK, June 15, 2021 /PRNewswire/ -- Consolidated
Edison, Inc. ("Con Edison") (NYSE: ED) announced today it has
agreed to issue 10,100,000 of its common shares. These common
shares are being offered by Barclays under Con Edison's
effective shelf registration statement filed with the Securities
and Exchange Commission (the "Commission"). The underwriter may
offer the common shares in transactions on the New York Stock
Exchange LLC, in the over-the-counter market or through negotiated
transactions at market prices or at negotiated prices. The
common shares are expected to be issued on June 18, 2021, subject to customary closing
conditions.
Con Edison expects to invest the net proceeds from the sale of
the common shares in its regulated utility subsidiary, Consolidated
Edison Company of New York, Inc.,
for funding of its construction expenditures and for its other
general corporate purposes.
The offering is being made pursuant to Con Edison's effective
shelf registration statement filed with the Commission. The
preliminary prospectus supplement and the base prospectus related
to the offering will be available on the Commission's website at
http://www.sec.gov. Copies of the prospectus supplement and the
base prospectus relating to the offering may be obtained from
Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, New
York 11717 (or by email at barclaysprospectus@broadridge.com
or by telephone at 1-888-603-5847).
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.
This press release contains forward-looking statements that are
intended to qualify for the safe-harbor provisions of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking
statements are statements of future expectations and not facts.
Words such as "forecasts," "expects," "estimates," "anticipates,"
"intends," "believes," "plans," "will," "target," "guidance" and
similar expressions identify forward-looking statements. The
forward-looking statements reflect information available and
assumptions at the time the statements are made, and accordingly
speak only as of that time. Actual results or developments might
differ materially from those included in the forward-looking
statements because of various factors such as those identified in
reports Con Edison has filed with the Commission, including that
its subsidiaries are extensively regulated and are subject to
penalties; its utility subsidiaries' rate plans may not provide a
reasonable return; it may be adversely affected by changes to the
utility subsidiaries' rate plans; the failure of, or damage to, its
subsidiaries' facilities could adversely affect it; a cyber attack
could adversely affect it; the failure of processes and systems and
performance of employees and contractors could adversely affect it;
it is exposed to risks from the environmental consequences of its
subsidiaries' operations, including increased costs related to
climate change; a disruption in the wholesale energy markets or
failure by an energy supplier or customer could adversely affect
it; it has substantial unfunded pension and other postretirement
benefit liabilities; its ability to pay dividends or interest
depends on dividends from its subsidiaries; it requires access to
capital markets to satisfy funding requirements; changes to tax
laws could adversely affect it; its strategies may not be effective
to address changes in the external business environment; it faces
risk related to health epidemics and other outbreaks, including the
COVID-19 pandemic; and it also faces other risks that are beyond
its control. Con Edison assumes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
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 sustainable energy infrastructure projects
and provides energy-related products and services to wholesale and
retail customers; and Con Edison Transmission, Inc. invests in
electric transmission facilities through its subsidiary,
Consolidated Edison Transmission, LLC, and holds investments in gas
pipeline and storage facilities through its subsidiary Con Edison
Gas Pipeline and Storage, LLC.
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SOURCE Consolidated Edison, Inc.