NEW
YORK, March 4, 2025 /PRNewswire/ -- Consolidated
Edison, Inc. ("Con Edison") (NYSE: ED) announced today it has
agreed to issue 6,300,000 of its common shares. These common
shares are being offered by Barclays under Con
Edison's effective shelf registration statement filed with the
Securities and Exchange Commission (the "SEC"). The underwriter may
offer the common shares in transactions on the New York Stock
Exchange LLC, in the over-the-counter market or through negotiated
transactions at market prices or at negotiated prices. The
common shares are expected to be issued on March 6, 2025, subject to customary closing
conditions.
Con Edison expects to invest the net proceeds from the sale of
the common shares in its subsidiaries for funding of their capital
requirements and for its other general corporate purposes.
The offering is being made pursuant to Con Edison's effective
shelf registration statement filed with the SEC. The preliminary
prospectus supplement and the base prospectus relating to the
offering will be available on the SEC's website at
http://www.sec.gov. Copies of the prospectus supplement and the
base prospectus relating to the offering may be obtained from
Barclays Capital Inc., c/o Broadridge Financial
Solutions,1155 Long Island Avenue, Edgewood, New York 11717, Toll-free:
1-888-603-5847, Email:
barclaysprospectus@broadridge.com.
This press release does 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 the
offer, solicitation or sale of these securities would be unlawful
prior to registration or qualification under the securities laws of
any such jurisdiction. The offering of these securities will be
made only by means of the prospectus and related prospectus
supplement meeting the requirements of Section 10 of the Securities
Act of 1933, as amended (the "Securities Act").
This press release contains forward-looking statements that are
intended to qualify for the safe-harbor provisions of Section 27A
of the Securities Act, and Section 21E of the Securities Exchange
Act of 1934, as amended. Forward-looking statements are statements
of future expectations and not facts. Words such as "forecasts,"
"expects," "estimates," "anticipates," "intends," "believes,"
"plans," "will," "target," "guidance," "potential," "goal,"
"consider" and similar expressions identify forward-looking
statements. The forward-looking statements reflect information
available and assumptions at the time the statements are made, and
accordingly speak only as of that time.
Actual results or developments might differ materially from
those included in the forward-looking statements because of various
factors such as those identified in reports Con Edison has filed
with the SEC, including, but not limited to: its subsidiaries are
extensively regulated and may be subject to substantial penalties;
its utility subsidiaries' rate plans may not provide a reasonable
return; it may be adversely affected by changes to the utility
subsidiaries' rate plans; the failure of, or damage to, its
subsidiaries' facilities could adversely affect it; a cyber attack
could adversely affect it; the failure of processes and systems,
the failure to retain and attract employees and contractors, and
their negative performance could adversely affect it; it is exposed
to risks from the environmental consequences of its subsidiaries'
operations, including increased costs related to climate change;
its ability to pay dividends or interest depends on dividends from
its subsidiaries; changes to tax laws could adversely affect it; it
requires access to capital markets to satisfy funding requirements;
a disruption in the wholesale energy markets, increased commodity
costs or failure by an energy supplier or customer could adversely
affect it; it faces risks related to health epidemics and other
outbreaks; its strategies may not be effective to address changes
in the external business environment; it faces risks related to
supply chain disruptions, inflation and the imposition of tariffs;
and it also faces other risks that are beyond its control. This
list of factors is not all-inclusive because it is not possible to
predict all factors that could cause actual results or developments
to differ from the forward-looking statements. Con Edison assumes
no obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
Consolidated Edison, Inc. is one of the nation's largest
investor-owned energy-delivery companies. The company provides a
wide range of energy-related products and services to its customers
through the following subsidiaries: Consolidated Edison Company of
New York, Inc., a regulated
utility providing electric, gas and steam service in New York City and Westchester County,
New York; Orange and Rockland
Utilities, Inc., a regulated utility serving customers in a 1,300
square-mile area in southeastern New York
State and northern New
Jersey; and Con Edison Transmission, Inc., which through its
subsidiaries, invests in electric transmission projects and
manages, through joint ventures, both electric and gas assets.
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SOURCE Consolidated Edison, Inc.
