BREAKING: Con Edison ($ED) signs forward sale with JPMorgan for 7,000,000 common shares — initial forward…
Filed with the SEC on · Summarized by InvestorsBot
BREAKING: Con Edison ($ED) signs forward sale with JPMorgan for 7,000,000 common shares — initial forward price $110.81/sh. 🚨⚡ #ED #BREAKING #Stocks #Energy
ALERT: Big implication — JPM can accelerate the deal and force settlement, which could force Con Edison to issue shares and materially dilute EPS/ROE. ⚠️📉 $ED #Dilution #FinTwit #Investing #MarketRisk
Confirmed: Agreement may settle by 12/31/2026 (or earlier). Con Ed can opt for physical, cash or net-share settlement; forward price adjusts daily by overnight funding rate less a spread and drops for expected dividends. 🔁📊 $ED #Equity #Markets
Size/impact: If fully physically settled at the initial price that's ≈7M x $110.81 ≈ $776M of issuance proceeds (subject to adjustments). Affiliate already sold shares via underwriting per filing. 💵🔍 $ED #CapitalRaise #SEC8K #ED