Con Edison enters forward sale for 7M shares at initial $96.66 per share

CONSOLIDATED EDISON INC

Forward sale agreement with JPMorgan Chase to potentially issue 7,000,000 common shares; initial forward price $96.66.
Concurrent underwriting agreement with J.P. Morgan Securities for sale of 7M shares; shares borrowed from third parties.
Settlement expected by Dec 31, 2025; Con Edison may elect physical, cash, or net share settlement at its option.
Forward price adjusted daily based on overnight bank funding rate less spread, reduced by expected dividends.

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