SAN FRANCISCO – PG&E Corporation (NYSE: PCG) announced today that it has commenced an underwritten public offering of 4,900,000 shares of its common stock. PG&E Corporation expects to contribute all of the net proceeds from the offering to its regulated utility subsidiary, Pacific Gas and Electric Company, which will use such proceeds for general corporate purposes.
Morgan Stanley and BofA Merrill Lynch are acting as underwriters of the offering. The common stock is being offered under PG&E Corporation's effective shelf registration statement.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
The offering of these securities may be made only by means of the prospectus and the related prospectus supplement relating to the offering. A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission and will be available on its website at www.sec.gov. Copies of the prospectus and the related prospectus supplement, when available, may be obtained from Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 and BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, email: email@example.com.
About PG&E Corporation
PG&E Corporation (NYSE:PCG) is a Fortune 200 energy-based holding company, headquartered in San Francisco. It is the parent company of Pacific Gas and Electric Company, California's largest investor-owned utility. PG&E serves about 16 million Californians across a 70,000 square-mile service area in Northern and Central California.
This press release contains forward-looking statements of future expectations, including the consummation of this offering and the expected use of the proceeds therefrom. Actual results might differ materially from those anticipated. See “Risk Factors” and “Forward-Looking Statements” in PG&E Corporation's prospectus and the related preliminary prospectus supplement, and similarly titled sections in PG&E Corporation's Annual Report on Form 10-K for the fiscal year ended December 31, 2015, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2016 and June 30, 2016, and other reports that may be filed with the SEC.