PG&E Corporation agreed on December 2, 2024 to sell 48,661,801 shares of common stock to underwriters under an underwriting agreement, and granted the underwriters a 30-day option to buy up to an additional 7,299,269 shares.

1. 01

   PG&E Corporation agreed on December 2, 2024 to sell 48,661,801 shares of common stock to underwriters under an underwriting agreement, and granted the underwriters a 30-day option to buy up to an additional 7,299,269 shares.

2. 02

   The company said the underwriters exercised the option in full on December 3, 2024, and the offering closed on December 4, 2024.

3. 03

   PG&E said it announced the launch of concurrent offerings on December 2, 2024 of $1,200 million of common stock and $1,200 million of Series A Mandatory Convertible Preferred Stock. The liquidation preference per share of the preferred stock is $50.00, and unless holders convert earlier, each share will automatically convert into a variable number of common shares on or around December 1, 2027.

4. 04

   The company said it plans to use the net proceeds from the common stock and preferred stock offerings for general corporate purposes, which may include funding its 5-year capital investment plan.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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