PECO to Voluntarily Delist Capital Trust Receipts from NYSE
13 April 2024 - 6:05AM
Business Wire
PECO Energy Company (“PECO”) announced today that it will
voluntarily delist the Trust Receipts of PECO Energy Capital Trust
III (the “Trust”), each representing a 7.38 percent Cumulative
Preferred Security, Series D, $25 stated value, issued by PECO
Energy Capital, L.P. and unconditionally guaranteed by PECO (the
“Securities”), from The New York Stock Exchange (the “NYSE”). Given
the relatively low trading volume of the Securities on the NYSE
over a sustained period of time and the limited number of holders
of the Securities, PECO believes that the financial and
administrative costs associated with maintaining the NYSE listing
are no longer justified.
PECO intends to file a Form 25, Notification of Removal from
Listing and/or Registration, under Section 12(b) of the Securities
Exchange Act of 1934 with the Securities and Exchange Commission
(the “SEC”) and the NYSE on or about April 22, 2024, notifying the
SEC of the removal from listing of the Securities. PECO has not
arranged for the Securities to be listed on another national
securities exchange or for quotation of its security in a quotation
medium (i.e., the OTC market).
Cautionary Statements Regarding Forward-Looking
Information
This press release contains certain forward-looking statements
within the meaning of federal securities laws that are subject to
risks and uncertainties. Words such as “could,” “may,” “expects,”
“anticipates,” “will,” “targets,” “goals,” “projects,” “intends,”
“plans,” “believes,” “seeks,” “estimates,” “predicts,” “should,”
and variations on such words, and similar expressions that reflect
our current views with respect to future events and operational,
economic, and financial performance, are intended to identify such
forward-looking statements.
The factors that could cause actual results to differ materially
from the forward-looking statements made by PECO include those
factors discussed herein as well as the items discussed in (1)
PECO's 2023 Annual Report on Form 10-K in (a) Part I, ITEM 1A. Risk
Factors, (b) Part II, ITEM 7. Management’s Discussion and Analysis
of Financial Condition and Results of Operations, and (c) Part II,
ITEM 8. Financial Statements and Supplementary Data: Note 18,
Commitments and Contingencies; and (2) other factors discussed in
filings with the SEC by PECO.
Investors are cautioned not to place undue reliance on these
forward-looking statements, whether written or oral, which apply
only as of the date of this press release. PECO undertakes no
obligation to publicly release any revision to its forward-looking
statements to reflect events or circumstances after the date of
this press release.
PECO, founded in 1881, is Pennsylvania's largest electric and
natural gas delivery company. Headquartered in Philadelphia, PECO
delivers energy to nearly 1.7 million electric customers and more
than 552,000 natural gas customers in southeastern Pennsylvania.
The company's 2,900 employees are dedicated to the safe and
reliable delivery of electricity and natural gas as well as
enhanced energy management conservation, environmental stewardship,
and community assistance. PECO is a subsidiary of Exelon
Corporation (Nasdaq: EXC), a Fortune 250 company and the nation's
largest energy delivery company, serving more than 10 million
customers through six fully regulated transmission and distribution
utilities. For more information visit PECO.com, and connect with
the company on Facebook and X, formally known as Twitter.
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PECO Communications 215-841-5555 PECO.Media@exeloncorp.com
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