Hawaiian Electric Industries Prices Public Offering Of 54.05 Mln Common Shares At $9.25/Shr

(RTTNews) - Hawaiian Electric Industries, Inc. (HE) announced that it has priced public offering of 54.05 million common shares at $9.25 per share. The company expects to close the offering on September 25, 2024.

The company has granted underwriters an option to buy up to an additional 8.11 million shares at the public offering price less underwriting discounts and commissions.

HEI intends to use offering net proceeds 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.