Hawaiian Electric Industries (HE) Announces Common Stock Offering

Hawaiian Electric Industries, Inc. (NYSE: HE) today announced it intends to make an offering of $500,000,000 of shares of its common stock. The Company’s common stock is listed on the New York Stock Exchange under the symbol “HE.”

The Company intends to grant the underwriters of the offering an option to purchase up to an additional $75,000,000 of shares of common stock at the public offering price less underwriting discounts and commissions.

HEI intends to use the net proceeds from the offering 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.

The offering of common stock will be made by means of a prospectus supplement under HEI’s effective registration statement on Form S-3ASR, as filed with the Securities and Exchange Commission (“SEC”).

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor does it constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale is unlawful. The offering may be made only by means of a prospectus supplement relating to such offering and the accompanying prospectus. To obtain a copy of the prospectus supplement and related base prospectus for this offering, please contact Wells Fargo Securities, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at (800)-645-3751 (option #5) or email a request to [email protected] or Barclays Capital Inc., c/o Broadridge Financial Solutions 1155 Long Island Avenue, Edgewood, NY 11717, at (888) 603-5847 or email a request to [email protected].

You May Also Be Interested In

• Bullish stock climbs on Stacks token listing expansion
• Alight names Bruce Wolfe as SVP, Wealth Solution Leader
• BioHarvest Sciences seeks dual listing on Tel Aviv Stock Exchange