Hawaiian Electric Industries Plans to Sell $500M in Common Stock to Finance Maui Wildfire Settlement

Hawaiian Electric Industries recently announced that it is offering $500 million in shares of its common stock. This offering is outlined in a prospectus supplement accompanying the main prospectus. The company plans to utilize the net proceeds from this offering to contribute to the anticipated settlement regarding the Maui wildfire tort litigation, as well as for general corporate purposes.

Hawaiian Electric Industries’ common stock is traded on the New York Stock Exchange under the symbol “HE.” As of September 20, 2024, the last reported sale price for the stock was $10.97 per share.