Followers | 0 |
Posts | 29261 |
Boards Moderated | 2 |
Alias Born | 07/17/2007 |
Sunday, December 07, 2008 8:17:14 AM
HONOLULU, Dec 02, 2008 (BUSINESS WIRE) -- Hawaiian Electric Industries, Inc. (NYSE:HE) announced today that it priced a public offering of 5,000,000 shares of its common stock at $23 per share for gross proceeds of $115 million. In addition, the underwriters have an over-allotment option to purchase up to an additional 750,000 shares of common stock from HEI. HEI intends to use the net proceeds from the sale to repay its outstanding short-term indebtedness consisting of borrowings under its line of credit facility and commercial paper borrowings and to make loans to its subsidiary, Hawaiian Electric Company, Inc. ("HECO"), principally to permit HECO to repay a portion of its outstanding commercial paper borrowings. The proceeds of HECO's commercial paper borrowings were partly used to finance HECO's ongoing capital expenditure programs.
Morgan Stanley & Co. Incorporated is the sole book-running manager for the offering. Goldman, Sachs & Co., Robert W. Baird & Co. Incorporated and D.A. Davidson & Co. are co-managers for the offering.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make an offer, solicitation or sale in such jurisdiction. The offering may be made by means of a prospectus and a related prospectus supplement, copies of which may be obtained when available from Morgan Stanley & Co. Incorporated, c/o Prospectus Department, 180 Varick Street 2/F, New York, New York 10014 or by email at prospectus@morganstanley.com.
Forward-looking Statements
Certain statements herein constitute "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties that could cause actual results to differ materially from those indicated, including the changing of regional and national economic conditions, changes in the real estate market, changes in levels of market interest rates, credit risks on lending activities, and competitive and regulatory factors. All forward-looking statements are necessarily speculative and undue reliance should not be placed on any such statements, which are accurate only as of the date made. HEI disclaims any duty to update such forward-looking statements.
Forward-looking statements in this release should be read in conjunction with the "Forward-Looking Statements" discussion (which is incorporated by reference herein) set forth on pages iv and v of HEI's Quarterly Report on Form 10-Q for the quarter ended September 30, 2008, and in HEI's future periodic reports that discuss important factors that could cause HEI's results to differ materially from those anticipated in such statements.
SOURCE: Hawaiian Electric Industries, Inc.
Hawaiian Electric Industries, Inc.
Suzy P. Hollinger, 808-543-7385
808-203-1155 Facsimile
Manager, Treasury and Investor Relations
E-mail: shollinger@hei.com
©2004-2008 HAWAIIAN ELECTRIC INDUSTRI
Recent HE News
- Starbucks Rises 3%; Disney Unveils New Films and Expansions; Uber CEO Questions Tesla Robotaxi Viability, and More • IH Market News • 08/12/2024 09:46:16 AM
- HEI Reports Second Quarter 2024 Results • Business Wire • 08/09/2024 08:15:00 PM
- HEI Provides Update Following Global Settlement in Maui Wildfire Tort Litigation • Business Wire • 08/03/2024 02:00:00 AM
- Form 8-K/A - Current report: [Amend] • Edgar (US Regulatory) • 07/31/2024 10:04:10 AM
- American Savings Bank Reports Second Quarter 2024 Financial Results • Business Wire • 07/31/2024 03:30:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/31/2024 01:30:34 AM
- Hawaiian Electric Industries to Announce Second Quarter 2024 Results August 9; American Savings Bank to Announce Second Quarter 2024 Results July 30 • Business Wire • 07/16/2024 08:05:00 PM
- Form SC 13G/A - Statement of Beneficial Ownership by Certain Investors: [Amend] • Edgar (US Regulatory) • 07/08/2024 08:32:41 PM
- Hawaii Public Utilities Commission Approves Hawaiian Electric’s $250M Utility Accounts Receivable Credit Facility • Business Wire • 06/28/2024 09:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/30/2024 01:48:29 AM
- HEI Reports First Quarter 2024 Results • Business Wire • 05/10/2024 08:00:00 PM
- U.S. Futures and Global Markets Climb Amid Sustained Optimism • IH Market News • 05/10/2024 11:56:31 AM
- American Savings Bank Reports First Quarter 2024 Financial Results • Business Wire • 04/30/2024 09:00:00 PM
- Hawaiian Electric Industries to Announce First Quarter 2024 Results May 10; American Savings Bank to Announce First Quarter 2024 Results April 30 • Business Wire • 04/16/2024 08:00:00 PM
- HEI Reports 2023 Results • Business Wire • 02/13/2024 09:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/30/2024 10:16:54 PM
- American Savings Bank Reports Fourth Quarter and Full Year 2023 Financial Results • Business Wire • 01/30/2024 10:15:00 PM
- HEI to Announce Fourth Quarter and Full Year 2023 Results February 13; American Savings Bank to Announce 2023 Results January 30 • Business Wire • 01/16/2024 09:00:00 PM
- Hawaiian Electric’s Waiau Repower Project Selected • Business Wire • 12/11/2023 07:00:00 PM
- HEI Reports Third Quarter 2023 Results • Business Wire • 11/09/2023 09:00:00 PM
- Hawaiian Electric supports One ‘Ohana Initiative with statewide partners to aid healing, path forward for Hawai'i • Business Wire • 11/08/2023 11:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/30/2023 09:06:09 PM
- American Savings Bank Reports Third Quarter 2023 Financial Results • Business Wire • 10/30/2023 09:00:00 PM
- FILING DEADLINE--Kuznicki Law PLLC Announces Class Action on Behalf of Shareholders of Hawaiian Electric Industries, Inc. - HE • PR Newswire (US) • 10/19/2023 02:50:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM