Exelon Announces Price of Public Offering of Common Shares

CHICAGO–(BUSINESS WIRE)–Exelon (Nasdaq: EXC) today announced the price for an underwritten public offering of 11,300,000 common shares for expected gross proceeds of approximately $500 million before deducting estimated offering costs. Under the offering, the underwriters have been granted a 30-day option to purchase up to an additional 1,695,000 common shares. The offering is expected to close on August 9, 2022, subject to satisfaction of customary closing conditions. The net proceeds of the offering will be used to permanently repay a portion of the borrowings under a $1.15 billion term credit facility.

Barclays Capital Inc., Goldman Sachs & Co. LLC, JP Morgan Securities LLC and Morgan Stanley & Co. LLC acted as joint bookrunners and underwriters for the offering.

A registration statement relating to the common stock offering has been filed with the United States Securities and Exchange Commission (SEC) effective August 3, 2022. The common stock offering is being made only by means of a prospectus supplement. and the accompanying prospectus. Before investing in these securities, potential investors should read the Prospectus Supplement and accompanying Prospectus for more complete information about Exelon and the Offering. Prospective investors may obtain these documents from the SEC at the SEC’s website at www.sec.gov. Alternatively, prospective investors may obtain copies of the prospectus supplement and accompanying prospectus relating to the offering by contacting Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, barclaysprospectus @broadridge.com, (888) 603-5847; Goldman Sachs & Co. LLC, 200 West Street, New York, NY 10282 Attention: Prospectus Department, by phone: (866) 471-2526 or by email at prospectus-ny@ny.email.gs. com; JP Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Toll Free: 1-866-803-9204; and Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any common stock of Exelon and will not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be illegal. .

Cautions Regarding Forward-Looking Information

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. Words such as “could”, “may”, “expect”, “anticipate”, “will”, “target”, “goals”, “project”, “intend”, “plan” , “believes”, “seeks”, “estimates”, “forecasts” and variations of these words, and similar expressions which reflect our current opinions with regard to future events and operational, economic and financial performance, are intended to identify these forward-looking statements.

Factors that could cause actual results to differ materially from the forward-looking statements made by Exelon include the factors discussed here, as well as those discussed in (1) Exelon’s 2021 Annual Report on Form 10-K filed with the SEC on February 25, 2022 in Part I, ITEM 1A. Risk factors; (2) Exelon’s Current Report on Form 8-K filed with the SEC on June 30, 2022 to restate Exelon’s consolidated financial statements and certain other financial information originally included in the 2021 Form 10-K in (a) Part II, ARTICLE 7. Management report and analysis of the financial situation and operating results and (b) Part II, ITEM 8. Financial statements and additional data: Note 17, Commitments and contingencies; (3) Exelon Second Quarter 2022 Quarterly Report on Form 10-Q (filed with the SEC on August 3, 2022) in (a) Part II, ITEM 1A. Risk Factors, (b) Part I, ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations, and (c) Part I, ITEM 1. Financial Statements: Note 12, Commitments and Contingencies; and (4) other factors discussed in Exelon’s filings with the SEC.

Investors are cautioned not to place undue reliance on any such forward-looking statements, written or oral, which speak only as of the date of this press release. Exelon undertakes no obligation to release any revisions to its forward-looking statements to reflect events or circumstances after the date of this press release.

About Exelon

Exelon (Nasdaq: EXC) is a Fortune 200 company and the nation’s largest utility company, serving more than 10 million customers through six fully regulated transmission and distribution utilities – Atlantic City Electric (ACE) , Baltimore Gas and Electric (BGE), Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO Energy Company (PECO) and Potomac Electric Power Company (Pepco). More than 18,000 Exelon employees dedicate their time and expertise to supporting our communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and to volunteering. Follow Exelon on Twitter @Exelon.

About Barbara J. Ross

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