PG&E Corporation launches $2.4B combined public offerings of common and mandatory convertible preferred stock

PG&E Corp

Sold 48.66 million shares of common stock at $20.55 per share for approximately $1B in common offering.
Issued 28 million shares of mandatory convertible preferred stock at $50 per share for $1.4B.
Preferred stock carries 6.000% annual dividend and automatically converts into common stock on or around December 1, 2027.
Net proceeds of approximately $2.354B will be used to fund PG&E's five-year capital investment plan.
Joint book-running managers include J.P. Morgan, Barclays, and Citigroup.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.