SAN FRANCISCO, Feb. 26, 2013 /PRNewswire/ -- PG&E Corporation (NYSE: PCG) announced today that it has commenced an underwritten public offering of 7,200,000 shares of its common stock. 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.
Barclays Capital Inc. is acting as underwriter of the offering. The common shares are being offered under PG&E Corporation's effective automatic shelf registration statement filed with the Securities and Exchange Commission on February 23, 2011.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
The offering of these securities may be made only by means of the prospectus and related preliminary prospectus supplement relating to the offering. Copies of the preliminary prospectus supplement and the related prospectus, when available, may be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: (888) 603-5847, email: Barclaysprospectus@broadridge.com.
PG&E Corporation is a holding company that conducts its business through Pacific Gas and Electric Company, a public utility serving more than 15 million people throughout 70,000 square miles in Northern and Central California.
This press release contains forward-looking statements of future expectations, including the consummation of this offering and the expected use of the proceeds therefrom. Actual results might differ materially from those anticipated. See "Cautionary Language Regarding Forward Looking Statements" and "Risk Factors" in PG&E Corporation's Annual Report on Form 10-K for the fiscal year ended December 31, 2012 and other reports that may be filed with the Securities and Exchange Commission.
SOURCE PG&E Corporation