PG&E Corporation Announces Launch of Concurrent Offerings of Common Stock and Mandatory Convertible Preferred Stock
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PG&E Corporation has announced the launch of concurrent public offerings of $1.2 billion in common stock and $1.2 billion in mandatory convertible preferred stock.
December 02, 2024 | 12:30 pm
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PG&E Corporation is launching $1.2 billion offerings each of common stock and mandatory convertible preferred stock, which may dilute existing shares but also raise capital for the company.
The issuance of new common stock can lead to dilution of existing shares, potentially putting downward pressure on the stock price in the short term. However, the capital raised can be used for growth or debt reduction, which may benefit the company in the long term.
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IMPORTANCE 80
RELEVANCE 100