Exelon Announces Pricing of Public Offering of Common Stock
05 August 2022 - 02:00PM
Business Wire
Exelon (Nasdaq: EXC) today announced the pricing of an
underwritten public offering of 11,300,000 shares of common stock
for expected gross proceeds of approximately $500 million before
deducting estimated offering expenses. In connection with the
offering, the underwriters have been granted a 30-day option to
purchase up to an additional 1,695,000 shares of common stock. The
offering is expected to close on Aug. 9, 2022, subject to the
satisfaction of customary closing conditions. The net proceeds from
the offering will be used to permanently repay a portion of the
borrowings under a $1.15 billion term loan credit facility.
Barclays Capital Inc., Goldman Sachs & Co. LLC, J.P. Morgan
Securities LLC, and Morgan Stanley & Co. LLC acted as joint
book-running managers and underwriters for the offering.
A registration statement relating to the offering of common
stock has been filed with the U.S. Securities and Exchange
Commission (SEC) and became effective upon filing on Aug. 3, 2022.
The offering of common stock is being made only by means of a
prospectus supplement and accompanying prospectus. Before making an
investment in these securities, potential investors should read the
prospectus supplement and the accompanying prospectus for more
complete information about Exelon and the offering. Potential
investors may obtain these documents from the SEC on the SEC’s
website at www.sec.gov. Alternatively, potential investors may
obtain copies of the prospectus supplement and accompanying
prospectus relating to the offering by contacting Barclays Capital
Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717, barclaysprospectus@broadridge.com, (888)
603-5847; Goldman Sachs & Co. LLC, 200 West Street, New York,
NY 10282 Attention: Prospectus Department, by telephone: (866)
471-2526 or by email at prospectus-ny@ny.email.gs.com; J.P. Morgan
Securities LLC, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717, Toll-free: 1-866-803-9204; and
Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180
Varick Street, 2nd Floor, New York, NY 10014.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, shares of Exelon’s common stock
and will not constitute an offer, solicitation or sale in any
jurisdiction in which such an offer, solicitation or sale would be
unlawful.
Cautionary Statements Regarding Forward-Looking
Information
This press release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995 that are subject to risks and uncertainties. Words such as
“could,” “may,” “expects,” “anticipates,” “will,” “targets,”
“goals,” “projects,” “intends,” “plans,” “believes,” “seeks,”
“estimates,” “predicts,” and variations on such words, and similar
expressions that reflect our current views with respect to future
events and operational, economic, and financial performance, are
intended to identify such forward-looking statements.
The factors that could cause actual results to differ materially
from the forward-looking statements made by Exelon include those
factors discussed herein, as well as the items discussed in (1)
Exelon’s 2021 Annual Report on Form 10-K filed with the SEC on
February 25, 2022 in Part I, ITEM 1A. Risk Factors; (2) Exelon’s
Current Report on Form 8-K filed with the SEC on June 30, 2022 to
recast Exelon's consolidated financial statements and certain other
financial information originally included in the 2021 Form 10-K in
(a) Part II, ITEM 7. Management’s Discussion and Analysis of
Financial Condition and Results of Operations and (b) Part II, ITEM
8. Financial Statements and Supplementary Data: Note 17,
Commitments and Contingencies; (3) Exelon’s Second Quarter 2022
Quarterly Report on Form 10-Q (filed with the SEC on Aug. 3, 2022)
in (a) Part II, ITEM 1A. Risk Factors, (b) Part I, ITEM 2.
Management’s Discussion and Analysis of Financial Condition and
Results of Operations, and (c) Part I, ITEM 1. Financial
Statements: Note 12, Commitments and Contingencies; and (4) other
factors discussed in filings by Exelon with the SEC.
Investors are cautioned not to place undue reliance on these
forward-looking statements, whether written or oral, which apply
only as of the date of this press release. Exelon does not
undertake any obligation to publicly release any revision to its
forward-looking statements to reflect events or circumstances after
the date of this press release.
About Exelon
Exelon (Nasdaq: EXC) is a Fortune 200 company and the nation’s
largest utility company, serving more than 10 million customers
through six fully regulated transmission and distribution utilities
— Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE),
Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO
Energy Company (PECO), and Potomac Electric Power Company (Pepco).
More than 18,000 Exelon employees dedicate their time and expertise
to supporting our communities through reliable, affordable and
efficient energy delivery, workforce development, equity, economic
development and volunteerism. Follow Exelon on Twitter @Exelon.
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version on businesswire.com: https://www.businesswire.com/news/home/20220805005097/en/
Nick Alexopulos Corporate Communications 312-394-7417
nicholas.alexopulos@exeloncorp.com Andrew Plenge Investor Relations
312-394-2345
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