Con Edison Announces Major Public Offering of Common Shares to Fund Capital Requirements

Consolidated Edison Announces Public Offering of Common Shares

Introduction
Consolidated Edison, Inc. (NYSE: ED), commonly known as Con Edison, has revealed plans to issue approximately 6.3 million of its common shares in a public offering. This strategic decision is part of the company’s growth strategy and will enable the organization to meet its capital requirements and support its core corporate activities.

Offering Details
The common shares are being offered under an effective shelf registration statement that Con Edison has previously filed with the Securities and Exchange Commission (SEC). Barclays will act as the underwriter for the issue, facilitating the sale through various transaction methods on the New York Stock Exchange (NYSE), in the over-the-counter market, as well as through negotiated transactions at market-based or agreed-upon prices.

The shares are anticipated to be issued on March 6, 2025, pending the completion of standard closing conditions and regulatory approvals. This public offering mirrors a trend among utility companies seeking to bolster their capital influx for operational activities.

Purpose of the Offering
The proceeds from this share offering will be critical for Con Edison's subsidiaries to fulfil significant capital needs. In essence, these funds are expected to be instrumental in various projects, helping to ensure continued reliability in energy delivery and supporting other general corporate requirements.

Con Edison's investment strategy focuses on enhancing its service offerings, which includes providing electric, gas, and steam service primarily in New York City as well as in Westchester County. By investing in its subsidiaries, Con Edison aims to strengthen its market position and maintain a competitive edge in the energy sector.

Regulatory and Legal Considerations
It is important to note that this announcement is not a solicitation of an offer to buy these securities. The offering will only be made by means of a prospectus and related documents meeting the specified requirements under the Securities Act of 1933. Investors are advised to consult the preliminary prospectus supplement and base prospectus related to the offering, which will be available on the SEC’s website.

The forward-looking statements regarding this share issuance have been made with the understanding that various factors could result in actual outcomes differing materially from those anticipated. The firm acknowledges potential risks such as changes in regulatory environments, rate plans, operational challenges, and impacts stemming from environmental considerations, all of which could influence the utility's efficiency and financial performance.

Conclusion
Consolidated Edison, Inc. stands as one of the largest publicly traded energy delivery companies in the country. The offering of common shares not only supports its current operational infrastructure but sets the foundation for future investments and innovations in energy delivery. As investors look to engage with environmentally-conscious utility providers, this offering underscores Con Edison’s commitment to maintaining robust industry standards and comprehensive service availability amidst a dynamic energy landscape. For further details on the offering, potential investors can reach out to Barclays Capital or visit the SEC website for additional documentation.

Contact Information
For those interested in obtaining the prospectus supplement and related documents, they can be requested from Barclays Capital Inc. at the following address: 1155 Long Island Avenue, Edgewood, New York 11717, or via their toll-free number at 1-888-603-5847.