PG&E Corp. (PCG) Prices 4.9M Common Stock Offering at $63.25/Share

August 16, 2016 9:02 AM EDT

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PG&E Corporation (NYSE: PCG) announced today the pricing of the previously announced public offering of 4,900,000 shares of its common stock at a price to the public of $63.25 per share. 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.

BofA Merrill Lynch and Morgan Stanley are the underwriters for this offering. The common stock is being offered under PG&E Corporation’s effective shelf registration statement. The offering is expected to close on August 19, 2016, subject to customary closing conditions.

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