PG&E raises $5.5 billion as it eyes exit from bankruptcy next week

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Go back to PG&E raises $5.5 billion as it eyes exit from bankruptcy next week

PG&E Corp. (PCG) Resumes Trading

June 26, 2020 10:39 AM EDT

PG&E Corp. (NYSE: PCG) Resumes Trading

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PG&E Corp. (PCG) Prices 423.37M Share Common Offering at $9.50/Sh; Announces Pricing of 14.545 Equity Units at $100/Unit

June 26, 2020 5:55 AM EDT

PG&E Corporation (NYSE: PCG) today announced that it has priced its previously announced underwritten public offering of 423,372,629 shares of its common stock at a price per share to the public of $9.50 and its previously announced concurrent underwritten public offering of 14,545,455 of its equity units at a price of $100 per unit, for total net proceeds to the Corporation, before estimated offering expenses, of approximately $3.968 billion and approximately $1.186 billion, respectively. The offerings are part of PG&Es plan to fund its emergence from Chapter 11, subject to market conditions. PG&E has granted the... More