Hawaiian Electric Industries, Inc. announced it intends to make an offering of $500,000,000 of shares of its common stock. The Company’s common stock is listed on the New York Stock Exchange under the symbol “HE.”
The Company intends to grant the underwriters of the offering an option to purchase up to an additional $75,000,000 of shares of common stock at the public offering price less underwriting discounts and commissions.
HEI intends to use the net proceeds from the offering to fund its contribution to the expected Maui wildfire tort litigation settlement and for general corporate purposes.
Wells Fargo Securities, LLC and Barclays Capital Inc. are the joint lead book-running managers and Guggenheim Securities, LLC is a book-running manager for the offering.
The offering of common stock will be made by means of a prospectus supplement under HEI’s effective registration statement on Form S-3ASR, as filed with the Securities and Exchange Commission (“SEC”).
