Hawaiian Electric Industries Intends To Make Offering Of $500M Of Shares Of Its Common Stock
Portfolio Pulse from Benzinga Newsdesk
Hawaiian Electric Industries plans to offer $500 million in common stock to fund its contribution to the Maui wildfire tort litigation settlement and for general corporate purposes.
September 23, 2024 | 9:08 pm
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Hawaiian Electric Industries is issuing $500M in common stock to fund its contribution to the Maui wildfire settlement and for general corporate purposes.
The issuance of $500M in common stock by Hawaiian Electric Industries is likely to dilute existing shares, which can lead to a short-term decrease in stock price. The funds are intended for the Maui wildfire settlement and general corporate purposes, indicating a significant financial obligation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100