Dominion Resources, Inc. (NYSE:D), today announced the sale of an aggregate of 2,800,000 shares of its common stock through a registered underwritten public offering to UBS Securities LLC, as the sole underwriter for this offering. The net proceeds from the offering will be used for general corporate purposes, to finance capital expenditures and to repay short term debt including commercial paper. The offering is expected to close on May 27, 2015, subject to customary closing conditions.
The last reported sale price of the company’s common stock on May 20, 2015 was $71.89 per share. UBS Securities LLC proposes to offer for sale the shares of common stock from time to time in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to receipt and acceptance by it and subject to its right to reject any order in whole or in part.
Dominion Resources, Inc. (NYSE:D), has announced that, subject to the scheduled close of today’s sale of approximately $200 million of its common stock through a registered underwritten public offering to UBS Securities LLC, it has completed its currently planned market issuances of equity for calendar year 2015. With today’s offering and the previously completed “at the market” issuances of common stock during this year of approximately $300 million, the company has completed $500 million in market issuances of new equity in 2015. The company has no current plans to issue to the market any additional shares of its common stock or other equity-linked securities this year.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of, or any solicitation of an offer to buy, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Dominion is one of the nation’s largest producers and transporters of energy, with a portfolio of approximately 24,600 megawatts of generation, 12,200 miles of natural gas transmission, gathering and storage pipeline, and 6,455 miles of electric transmission lines. Dominion operates one of the nation’s largest natural gas storage systems with 928 billion cubic feet of storage capacity and serves utility and retail energy customers in 13 states.