Exelon To Offer Common Stock, Equity Units

(RTTNews) - Exelon Corp. (EXC) said Tuesday that it plans to commence concurrent registered offerings of 50 million shares of its common stock in connection with forward sales agreements and 20 million equity units with aggregate stated amount of $1.0 billion.

Exelon expects to grant the underwriters of the offerings a 30-day option to purchase up to an additional 7.5 million shares of Exelon common stock and a 13-day option to purchase up to an additional 3 million equity units upon the same terms.

Net proceeds of the offerings will be used to finance a portion of the Pepco Holdings Inc. acquisition announced on April 30, and for general corporate purposes.

In connection with the common stock offering, Exelon expects to enter into forward sale agreements with an affiliate of Barclays Capital Inc. and Goldman, Sachs & Co.

Under those agreements, Exelon will agree to issue and sell to the forward counterparties the same number of shares of Exelon common stock sold by the forward counterparties in the underwritten public offering.