secwatch.observer — SEC 8-K summary
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Issuer:     CONSOLIDATED EDISON INC (ED)
CIK:        0001047862
Form:       8-K
Filed at:   2024-12-05T23:59:59+00:00
Accession:  0001193125-24-271560
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1047862/000119312524271560/0001193125-24-271560-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1047862/000119312524271560/d861512d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-271560

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