NEW YORK, Aug. 08, 2017 (GLOBE NEWSWIRE) -- 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: email@example.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.
Con Edison, Inc.