secwatch.observer — SEC 8-K summary
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Issuer:     PG&E Corp (PCG)
CIK:        0001004980
Form:       8-K
Filed at:   2024-12-05T23:59:59+00:00
Accession:  0001193125-24-271513
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 3.03, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PG&E raises $1.61B through 6% Series A mandatory convertible preferred stock offering
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- Issued 28M shares of 6.000% Series A Mandatory Convertible Preferred Stock at $50 liquidation preference; overallotment option for 4.2M shares fully exercised.
- Dividends cumulative at 6% annually, payable quarterly starting March 1, 2025; may be paid in cash, common stock, or combination.
- Each share automatically converts into 1.9465–2.4331 shares of common stock around Dec 1, 2027, based on VWAP.
- Closing date December 5, 2024; filed certificate of determination with California Secretary of State.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1004980/000119312524271513/0001193125-24-271513-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/75488/000119312524271513/d917505d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-271513

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer