Hawaiian Electric Shares Sink on $500M Stock Sale To Pay for Maui Fire Damages
HAHawaiian Holdings(HA) Investopedia·2024-09-24 23:15

Key TakeawaysHawaiian Electric Industries will sell 500millioninstocktohelppayfordamagesfromthe2023Mauiwildfires.Thepowercompanyispricingthestockat500 million in stock to help pay for damages from the 2023 Maui wildfires.The power company is pricing the stock at 9.25, a $1.65 discount from Monday's closing price.Hawaiian Electric Industries has warned that it may not be able to continue as a viable operation because of the costs to cover the fire damages. Shares of Hawaiian Electric Industries (HE), or HEI, tumbled Tuesday, a day after the holding company for the state's biggest power provider anno ...